Paid education loan but reflecting default in cibil
shabari
(Querist) 07 August 2015
This query is : Resolved
Honorable Lawyers,
i took my educational loan on 2007, i completed my engg in 2011, initially i started my job with small company of pay about 5k, after many struggles now i'm in mnc, in the mean time, i got letters from bank to pay the loan amount and i spoke to the manager and explained about my situation and they gave me the time to pay,, after placing in mnc at that time i got letter from bank they told me to pay full amount without interest, so i paid that amount fully by borrowing from local lenders, and bank closed my loan account, now the issue is when i applied for the personal loan it got rejected due to default in educational loan, now really i don't know what to do, when i checked with my previous bank manager he told they are not entering anything in cibil and it will be auto generated. i am really worried on this. i am the only earning person in my family with 1 sister, i dont what i can to for my sister marriage.
my current cibil score - 748
please advice me on this.
Guest
(Expert) 07 August 2015
Better reconcile your own maintained loan account with the bank account and convince the bank officials about your claim. If already paid all dues, cibil record can get rectified only after the bank confirms your claim in writing to the cibil.
P. Venu
(Expert) 07 August 2015
The loan account was settled, not repaid as originally agreed. As per the extent norms, CIBIL grading would be negative.
As there are larger issues involved, you may take up the matter with the Banking Ombudsman.
Kumar Doab
(Expert) 07 August 2015
You have posted that:
" i got letter from bank they told me to pay full amount without interest, so i paid that amount fully"
The letter from bank should be examined verbatim by your able lawyer dealing in banking/consumer matters.Your lawyer may opine that there is a way and can fetch you relief either by applying his/her conciliation/arbitration/mediation, skills or thru DCDRF.
It is always better to consult an able lawyer in advance before acting on one's own.
Rajendra K Goyal
(Expert) 07 August 2015
You have settled the account, did not repaid the interest, did not paid your EMI in time, CIBIL is right to show the account accordingly.
Search web to find out methods to amend your CIBIL score.
