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Improving your credit score isn't easy. More often than not, it takes months if not years to reverse the damage. This is the reason why the majority of credit experts strongly emphasize on developing good credit habits in the first place.Learn more
Having your own house gives you financial security and peace of mind, there are no two ways to it. Besides, if you are already living in a rented apartment/house, it makes sense to pay loan EMIs instead of the monthly rent, as in that case you will actually own your own house 20-25 years down the road.Learn more
Getting divorced is one of the most painful and traumatic experiences one can go through in their life. It's even worse when it takes place after a couple has spent years with each other. However, it's still more common than we would want it to be.Learn more
CIBIL plays an important role in the financial system. It keeps a record of the loans and credit card accounts of the borrowers and also tracks their repayment behaviour. It collates the information provided to it by all the member banks in the CIBIL report and calculates a CIBIL score. This score is a reflection of how well a person has handled his loan obligations. People who are diligent with their payments have a high CIBIL score.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.