[Resolved] Mahindra Finance — Giving wrong update to cibil from Mahindra Finance | |||
I have taken my car loan from mahindra finance. which was taken on march 2010. my mode of payment was ECS Initially my ECS mode payment got bounce due to some HSBC Bank issue which was latterly paid by cash. after this issue they(mahindra finance) have requested me to changed my mode of payment to cheque. Ashoka from mahindra finance collected the letter(letter for change of payment mode) & collect some PDC cheque from me. In cheque mode payment two time i have made cheque bounce which was my mistake. latterly i have paid the amount to the Mahindra finance all this issue was updated in my cibil report stating late payment. which affected me when i gone for housing loan.( on that time i was not aware about cibil functional. when i went for housing loan i got full details about cibil functional) Now latest issue from mahindra finance. from last two month they have not cleared my cheque. and even no cheque bounce happened in my account also. if you required i will send my bank statement. And i was follow-up with Girish Mahindra Finance execution from last two month. i didn't got any update from than. today i personally want to kasturinagar branch, bangalore. than i got the update that PDC cheque was over/completed. so they were not able to clear my EMI from my accounts. where i have given my PDC cheque & paids my last two EMI. i have some question on this issue.. 1. PDC cheque was completed/over. where they had not informed to customer by mail or letter. Even not update the customer where we was calling up to bank execution every two day once. Whether this problem from the customer side or Bank side? if it from the bank side why should the customer have negative remarks on it CIBIL report i.e. late payments stating. which will affect the customer going for future loan etc. 2. If cibil entries is base on cheque/ECS bounce? than they is no cheque bounce happened from last two month when bank people have time to send report every monthly to Cibil with wrong information. they do find time to send a letter to the customer or mail. Please take properly action on this issue.where bank making the mistake & customer are suffering. Thanks in advance Regards, Tilak.L [protected] [protected] Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 7 Comments | |||
Comments
Dear Lavu Ramarao,
CIBIL acts as weeding mechanism that helps identify repayment track records of the customer. It helps protect lenders from giving credit to people and establishments who are unlikely to repay what is lent. Even if credit is provided, it is done so at a very high rate of interest, thereby ensuring that the bank is able to recover a considerable sum of money even if a default happens some time into the loan tenure.On the other hand, on the availability of an impeccable repayment track record, one can reap benefits from it too.Banks provide a lower interest rate for sound credit profiles that have excellent credit scores .It also helps lenders and banks quickly process a loan, without wasting valuable time on research and background check on the loan applicant.
This helps the lender, be aware of the repayment track record of the loan seeker and quickly decide on loan eligibility. As per the style of the repayment track, a borrower is given a credit score. A poor credit score may occur difficulties to the borrower.
Now you know better about your existing repayment track records.
You may write me directly on my email id for any further assistance.
Regards
K Rajneesh
Head
INDIAN CONSULTANT GROUP
( Expert in Banking Grievances & Escalations )
Email : [protected]@indianconsultantgroup.com
visit us : www.indianconsultantgroup.com
" Please don't print e-mails unless you really need to. Save Trees - Save Environment "
CIBIL acts as weeding mechanism that helps identify repayment track records of the customer. It helps protect lenders from giving credit to people and establishments who are unlikely to repay what is lent. Even if credit is provided, it is done so at a very high rate of interest, thereby ensuring that the bank is able to recover a considerable sum of money even if a default happens some time into the loan tenure.On the other hand, on the availability of an impeccable repayment track record, one can reap benefits from it too.Banks provide a lower interest rate for sound credit profiles that have excellent credit scores .It also helps lenders and banks quickly process a loan, without wasting valuable time on research and background check on the loan applicant.
This helps the lender, be aware of the repayment track record of the loan seeker and quickly decide on loan eligibility. As per the style of the repayment track, a borrower is given a credit score. A poor credit score may occur difficulties to the borrower.
Now you know better about your existing repayment track records.
You may write me directly on my email id for any further assistance.
Regards
K Rajneesh
Head
INDIAN CONSULTANT GROUP
( Expert in Banking Grievances & Escalations )
Email : [protected]@indianconsultantgroup.com
visit us : www.indianconsultantgroup.com
" Please don't print e-mails unless you really need to. Save Trees - Save Environment "
have received information from the bank regarding defaulting in credit cards of icici Bank and my name is listed in the Defaulter List of CIBIL.
icici BANK have provided wrong information to the CIBIL. I have paid all the dues of icici Bank
But icici Bank has not send the data to CIBIL. MY credit card has declined because of the wrong information given by the bank to CIBIL.
I seek justice to get my names removed from the defaulter list with an immediate effect. I am ready to give all the proof and settlement letters issued by the concerned credit cards provider.
Please help to remive my name from civil.
Looking forward to a suitable action at the earliest form your end.
Regards
Dr. umesh saxena
f-202, shyam nagar ext. ram path sodala jaipur
[protected], [protected], [protected]
office
kautilya institute of tech. & engg.
[protected], 2770364
icici BANK have provided wrong information to the CIBIL. I have paid all the dues of icici Bank
But icici Bank has not send the data to CIBIL. MY credit card has declined because of the wrong information given by the bank to CIBIL.
I seek justice to get my names removed from the defaulter list with an immediate effect. I am ready to give all the proof and settlement letters issued by the concerned credit cards provider.
Please help to remive my name from civil.
Looking forward to a suitable action at the earliest form your end.
Regards
Dr. umesh saxena
f-202, shyam nagar ext. ram path sodala jaipur
[protected], [protected], [protected]
office
kautilya institute of tech. & engg.
[protected], 2770364
Mahindra — verification about cibil
Dear sir,recently i was applied for a car loan but my loan was rejected because of my name is showing in CIBIL.So i have paid all the amount toward to icici bank against my credit card.I have not done the settelment but pay full amount to respective bank.Now they are sending me NOC for the same can i know after getting the NOC from bank can i apply for car loan.
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CIBIL — CIBIL gives wrong information
Dear Sir,I came to know recently that my name is in CIBIL report, When i tried to apply for a loan it got rejected and one of my friend informed me that my name mite be in CIBIL.
Still now i havent applied for a loan or credit card for the first time i applied for a loan and got rejected.
I am in bad situation that i need to apply for a loan and i been runing around no one is giving proper informtation regarding this so please advise me how to get rid of this.