Wrong missed EMI mark on CIBIL by HDFC loans

[neelkumar]

Hey guys,

This is a very late observation from my side as I never seriously checked the CIBIL report until I joined this forum. And I need help on the below.

I have taken a Home Loan from HDFC LTD sometime during August, 2020. Well, the application process started in late August and was approved during early September and after a visit to their branch and submitting all the relevant documents and signing all forms on 27th of September, 2020, the first disbursement happened on 28th of September. I see other debit transactions from HDFC LTD in my bank account statement during that time, but, I don't remember their purpose. But from their home loan portal transaction details, the first EMI was deducted on 19th of October and regular EMI deductions thereafter.

Now, the problem is that I see a delayed payment mark on my CIBIL report for this loan account for September month and it says that I missed it by 30 days.

I have raised a correction on CIBIL portal and they closed it saying that I should contact HDFC LTD. And I have reported this directly on HDFC LTD website here https://portal.hdfc.com/grievance-redressal. But there's no response from them.

Has anyone taken a home loan from these guys and can comment or help me out here?

 

[techsearch]

Ok this has happened with me and in my case it was SBI 🙂 so imagine how difficult it would have been...

so to begin with its going to take time so have patience but it can be corrected.
how much is the impact ?
Also understand the issue in details, you will have to provide each and every detail to the bank.

It can get fixed only if the bank sends mail to the CIBIL authority that your account is regular and you have paid all the EMIs on time.

you will have to reach out to the Bank offline, talk to any senior member of the branch and explain them the issue.
Take loan statement with you and show them, then once they understand they will send mail to the HDFC head office and from there mail will go to CIBIL.
This entire process can take 3 to 6 months and its going to be tedious.
so i would say if impact is less then just leave it, in my case impact was of 87 points.

 

[neelkumar]

I talked to the customer care today and apparently it's my mistake.

I took insurance on the loan during the same time. I got 2 emails from them asking me to pay the Pre-EMI for home loan and the insurance, but I paid only for the insurance. I must have thought they are same repeated emails and ignored one of the payment request. As it is my mistake of ignoring the payment, they said they can't do anything now.

It's been 2.5 years since that anyway and I don't know the impact on my CIBIL score.

Ideally, I think this will be ignored for score calculation after this September as it will be 3 years. I guess I'll just wait.

 

[Credit Karma]

I talked to the customer care today and apparently it's my mistake.

I took insurance on the loan during the same time. I got 2 emails from them asking me to pay the Pre-EMI for home loan and the insurance, but I paid only for the insurance. I must have thought they are same repeated emails and ignored one of the payment request. As it is my mistake of ignoring the payment, they said they can't do anything now.

It's been 2.5 years since that anyway and I don't know the impact on my CIBIL score.

Ideally, I think this will be ignored for score calculation after this September as it will be 3 years. I guess I'll just wait.

Just wait for 6 more months and it will be gone automatically.

CIBIL only considers last 36 months of payments and you have been consistent for 30 now (I hope so). So it will not show up on your report after 6 more months.

But for other bureaus it may take upto 1-2 years.

Note - that late mark will always be there, it is only that the impact of it will be minimum!

 

[CC-Muncher]

should I worry about a wrong missed payment which is now > 3yrs old?

I see in the gPays cibil report that Payment history mentions "2 missed payments" (which is wrong) and the overall status remark says "Good" even after 382/384 on-time payments.
The 2 missed payments are being wrongly reported by SBI as the auto deduction of the EMI date fell on a vacation/weekend and it did not deduct on the configured date. Its there system's fault but my credit score has been impacted