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"With the increase in customer complaints regarding credit information reporting and the functioning of credit information companies, it has been decided to put in place a comprehensive framework for strengthening and improving the efficacy of the grievance redressal mechanism and customer service provided by credit institutions and CICs."
- RBI Statement on Developmental and Regulatory Policies
SOURCE : https://economictimes.indiatimes.co...under-rbis-ombudsman/articleshow/99305823.cms
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www.bqprime.com
I myself had to follow-up constantly and work extensively just to remove a false repayment report from a lazy Credit Institution!
WHY?
Qn. How long does payment history affect credit score?
This depends on various factors, including the number of late payments, amount you owe, and how late your payments were (usually payments made after 90 days), among others. If you have been a serial defaulter, the black mark will reflect on your report for at least 7 years. In cases of bigger financial fiascos, such as bankruptcy, can leave negative impact on your score for at least 10 years.
- RBI Statement on Developmental and Regulatory Policies
SOURCE : https://economictimes.indiatimes.co...under-rbis-ombudsman/articleshow/99305823.cms
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RBI Proposes Measures To Bolster Grievance Redressal At Credit Bureaus
RBI noted the rise in complaints regarding credit bureaus while proposing measures to bolster consumer protection.
I myself had to follow-up constantly and work extensively just to remove a false repayment report from a lazy Credit Institution!
WHY?
Qn. How long does payment history affect credit score?
This depends on various factors, including the number of late payments, amount you owe, and how late your payments were (usually payments made after 90 days), among others. If you have been a serial defaulter, the black mark will reflect on your report for at least 7 years. In cases of bigger financial fiascos, such as bankruptcy, can leave negative impact on your score for at least 10 years.
