CIBIL recovery

[NishantK]

I recently changed my job. I am currently a scale 1 officer in a public sector bank. Due to job change my salary credit took some time due to which I delayed payment on a paylater account which and a personal loan account. But I cleared all my dues and closed the accounts. There were 122 days dpd on the pay later account and 101 dpd on the personal loan account. My cibil is down right now. I have credit cards and a car loan from hdfc Bank which I was able to pay regularly during this period and there were no late payments. Kindly let me know what can I do to recover my cibil and whether what should be done while applying for loans in future.

 

[Ranger]

I recently changed my job. I am currently a scale 1 officer in a public sector bank. Due to job change my salary credit took some time due to which I delayed payment on a paylater account which and a personal loan account. But I cleared all my dues and closed the accounts. There were 122 days dpd on the pay later account and 101 dpd on the personal loan account. My cibil is down right now. I have credit cards and a car loan from hdfc Bank which I was able to pay regularly during this period and there were no late payments. Kindly let me know what can I do to recover my cibil and whether what should be done while applying for loans in future.

How much did ur score decrease?

 

[NishantK]

It was 740...it's 680 now...the loans I have closed are yet to be reported and updated in CIBIL...

 

[Ranger]

It was 740...it's 680 now...the loans I have closed are yet to be reported and updated in CIBIL...

Oh damn. I don't think the score will recover.

 

[Rohith-2009]

It'll recover slowly only by 5 to 10 points every month

 

[NishantK]

It'll recover slowly only by 5 to 10 points every month

Will it hamper my loan eligibility in future..??.. I am a PSB officer myself..govt banks doesn't care about late payments as long as there are no present overdues..but will it effect my loan eligibility when I apply loan with pvt banks like hdfc?

 

[SamPtnk]

Will it hamper my loan eligibility in future..??.. I am a PSB officer myself..govt banks doesn't care about late payments as long as there are no present overdues..but will it effect my loan eligibility when I apply loan with pvt banks like hdfc?

The service manager of Indian Bank himself defaulted on his loan last year
To pay off he took another loan from some private bank which he defaulted and took another loan to repay whose emi he missed mostly


Recovery agents came to the bank and were shouting

One aunty was telling manger got the taste of his own medicine

 

[NishantK]

The service manager of Indian Bank himself defaulted on his loan last year
To pay off he took another loan from some private bank which he defaulted and took another loan to repay whose emi he missed mostly


Recovery agents came to the bank and were shouting

One aunty was telling manger got the taste of his own medicine

Lol..I do wonder who was sanctioning loans after so many wilful defaults...i paid in full along with all charges as soon as I received my salary with arrears

 

[CardsHoarder]

It was 740...it's 680 now...the loans I have closed are yet to be reported and updated in CIBIL...

I am in similar situation. Do you have any updates to share? Did you approach the bank/cibil to understand more about approximately how long it takes to recover the score?

 

[NishantK]

I am in similar situation. Do you have any updates to share? Did you approach the bank/cibil to understand more about approximately how long it takes to recover the score?

Once the dues are paid it recovers eventually....but I want to know will it create problems while applying for new loans like car loans or home loans