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We all make mistakes. However, some mistakes lead to more serious repercussions than others, such as the credit score mistakes.
If you have any friend or a relative who is trying to get a loan for low CIBIL score, then they can testify that it’s nothing less than a herculean task. Unfortunately, a large number of people overlook the significance of CIBIL score and realize their mistake quite late in life.Learn more
It's been a while you have been thinking of buying your dream house, you are saving from ages and decide to go for a home loan and apply for the same, you get a call from the bank you applied the loan from that you do not have a credit history, what happens when you apply for a home loan without a history?Learn more
Your credit score and credit report are a measure of your financial health. Among the many things that impact your credit score are the number of hard inquiries on your credit report. Every time you apply for a fresh line of credit such as a loan or a credit card, it is registered as a hard inquiry in your report and remains in your report up to 24 months.Learn more
We are fast moving to a paperless world; so there are bills that are sent over emails, invitations are made over phone calls and even notices from schools are sent through mails and messages. This obviously has multiple benefits, the first being it saves paper and thus is environment friendly, using less paper is also a more economical way to get the message across.Learn more
Loan application can get declined for various reasons. The credit score or credit status is one of those. But borrower's credit score also happens to be the most important and dominant reason impacting the outcome of a loan application. The other reasons for decline could be failed verification, incomplete documentation apart from the credit policy of the bank.
While Credit Sudhaar Finance will review the past defaults, it would not be to reject the loan application but to weed out the intentional defaulters and lend to those who have not been able to pay for some exigency.
The low credit score generally leads to rejection of loan application. Credit Sudhaar Finance has introduced an innovative product that aims to extend loans to those who have low credit score. Irrespective of the reason for low credit score, including delinquent accounts, Credit Sudhaar Finance will evaluate the application and will lend if the borrower meets the laid down criteria.
Yes, getting a loan in individual capacity is definitely possible despite having a bad credit score. Credit Sudhaar Finance has introduced "Plus Loans" product for individuals who have stressed credit history owing to mistakes made in past.
There is no particular loan defaulter list. The underwriting is based on the data available on applicant's current and past accounts available on the credit bureau report.