Help regarding Late payment removal of loan from CIBIL

[credit_noob]

My uneducated brother has neither English nor finance knowledge and has 4 late payments ranging from 25 days to 45 days. My relative and my brother went to Sundaram Finance to get a loan for an automobile. My relative is a defaulter, which we didn't know until now. While processing the loan, my brother gave surety signature without his consent my relative taken loan on my brother by bribing loan processing team. My relative gave some commission to the employee processing the loan in the finance office. Now, my relative is not paying on time. What is the course of action?
The recovery team has acknowledged this fraud.
He had a CIBIL score of 800, which has fallen to 690.
He currently has 10 loans, all of which are paid on time.
His credit history is 12 years, and he has successfully closed 20 loans.
His current CIBIL score is 755!!
He will pay money if necessary to remove those late payment!!

 

[credit_noob]

++ now my brother paying that now to avoid late payment

 

[PavanPavan is verified member.]

how come surety cibil is impacted

 

[credit_noob]

how come surety cibil is impacted

As per my brother point of view surety sign.
But I enquired it the loan taken on my brother not surety

 

[D₹V]

My uneducated brother has neither English nor finance knowledge and has 4 late payments ranging from 25 days to 45 days. My relative and my brother went to Sundaram Finance to get a loan for an automobile. My relative is a defaulter, which we didn't know until now. While processing the loan, my brother gave surety signature without his consent my relative taken loan on my brother by bribing loan processing team. My relative gave some commission to the employee processing the loan in the finance office. Now, my relative is not paying on time. What is the course of action?
The recovery team has acknowledged this fraud.
He had a CIBIL score of 800, which has fallen to 690.
He currently has 10 loans, all of which are paid on time.
His credit history is 12 years, and he has successfully closed 20 loans.
His current CIBIL score is 755!!
He will pay money if necessary to remove those late payment!!

Money can't buy credit history!

Raise a complaint in concerned loan/finance company nodal/higher officials email again the employee who did this. Ask them to remove the late payments from CIBIL & restructure the loan on eligible person (your relative) PAN/CIBIL.

And last step is RBI ombudsman.

You might need to do an FIR too, though I'm not a legal advisor.

Hope it answers your query, you can mark my answer as solution by clicking best answer ☑️ button below my reply.

 

[credit_noob]

Money can't buy credit history!

Raise a complaint in concerned loan/finance company nodal/higher officials email again the employee who did this. Ask them to remove the late payments from CIBIL & restructure the loan on eligible person (your relative) PAN/CIBIL.

And last step is RBI ombudsman.

You might need to do an FIR too, though I'm not a legal advisor.

Oh
Thanks🙏
will try with nodal officer if any update will post here.
Mark it as closed.

 

[D₹V]

Oh
Thanks🙏
will try with nodal officer if any update will post here.
Mark it as closed.

You can mark my above answer as solution if you wish.

 

[credit_noob]

You can mark my above answer as solution if you wish.

I don't know how to. I didn't find best answer button😞😞😞

 

[Pankhuri]

The recovery team has acknowledged this fraud.

Have they acknowledged this in writing? If yes, then take that and mail to nodal officer to transfer the loan to the relative. Also threaten your relative to go to financial institution and get the loan restructured under his name or you will file an FIR.

 

[D₹V]

I don't know how to. I didn't find best answer button😞😞😞

Reported to mods, they'll take care 🙂

 

[credit_noob]

Have they acknowledged this in writing? If yes, then take that and mail to nodal officer to transfer the loan to the relative. Also threaten your relative to go to financial institution and get the loan restructured under his name or you will file an FIR.

Yes they acknowledged it verbal.
But we can't file FIR due to relationship.
We asked them remove for money they said not possible. My opinion they not having proper knowledge.

 

[Pankhuri]

Yes they acknowledged it verbal.

Do you have this in recording?

But we can't file FIR due to relationship.

You don't need to file it, you need to threaten that you will.

We asked them remove for money they said not possible. My opinion they not having proper knowledge.

Asked whom?

 

[credit_noob]

Do you have this in recording?

You don't need to file it, you need to threaten that you will.

Asked whom?

Recording: NO
Threatened:NO
asked whom: persons who processed+who comes home to recover

 

[Pankhuri]

Recording: NO
Threatened:NO
asked whom: persons who processed+who comes home to recover

Well, try to record them next time confirming the fraud.

Without some evidence confirming the fraud, there is no leg for you to stand on. Financial institution would deny that anything wrong happened.

 

[armat]

Guys, I need some advise. I had unicard and unipaycheck pro loan. I defaulted one paycheck payment as I was hospitalized. My cibil score drastically reduced. Later I contacted unicard they told me to submit medical bill and they will waive off late fee and remove the late payment entry from CIBIL. They waived off the late payment fee but did not remove the cibil late payment entry. I contacted them again. They refused to remove it from CIBIL. Soon after I closed the unicard account and it shows as closed in civil. But late payment still shows. Its been 7 months since I closed the account. What can I do to remove the late payment from CIBIL?

 

[credit_noob]

Raise a complaint in concerned loan/finance company nodal/higher officials email again the employee who did this.

Update
The person who processed the loan was found guilty and was demoted from manager to a document writer and transferred to another branch, as multiple loan defaults were found that he processed.

 

[D₹V]

Update
The person who processed the loan was found guilty and was demoted from manager to a document writer and transferred to another branch, as multiple loan defaults were found that he processed.

Your late payment mark removed?

 

[credit_noob]

Your late payment mark removed?

No bro.
New manager said i provide loan account number etc basic details for your reference on white paper...
Old manager given loan as something like blood relation type linked something he said
They won't remove need to reach high rank officer for resolution.
As of now both are relatives I am taking steps carefully