CIBIL score is a 3-digit numeric detail of a person’s credit history. This report is made as per the person’s credit payment history across loan types and credit institutions for a certain period of time. If one has a good credit CIBIL score, above 650, he/she can avail a loan quickly. If not, availing a loan can get really hard. If you ever come under the CIBIL defaulter list, try to get removed from it as soon as possible. You might have the question- how to clear CIBIL defaulter list. I can share some methods by which you can get your CIBIL score increased so read this answer.
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What is CIBIL defaulter list?The defaulter’s list is initiated by the RBI or the Reserve Bank of India mainly. They have classified defaulters into two groups - wilful and non-wilful. They want to figure out who is genuinely in debt and who is deliberately not paying off their debts. The TransUnion CIBIL maintains the data of such defaulters as per the orders of RBI. The financial institutions and other state financial corporations send their defaulter data to them directly.
If you have a poor CIBIL score, you will not get approval on a home loan and will be considered a CIBIL defaulter and the bank or lender will note your name. They might even file a case if the need is, after deciding whether you are a wilful defaulter or a non-wilful defaulter. So avoid being noted by the lender.
How to get removed from CIBIL defaulter list?It is not hard to remove CIBIL defaulter list. All you will need to do is better your CIBIL score. There are a few methods to do it-
Clear all your dues and debts
Try to pay all your bills within the given time
Spend money as per your credit limit
Take loans one at a time
Also do go through your credit history first. If you witness any discrepancy, point it out to the lender or bank. Check your credit report quite often to keep track and better yourself. Once you follow these and better your CIBIL score, you will automatically get removed from the CIBIL defaulter list.
I hope you have understood how to clear CIBIL defaulter list.
Read more:
How much CIBIL score required for personal loan?
How to Increase CIBIL Score from 500 to 750
How to increase CIBIL score from 600 to 750?
How to improve CIBIL score immediately?
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How to Clear CIBIL Defaulter List?
Akshay
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2023-01-12T10:05:09+00:00 2023-01-19T13:11:20+00:00Comment
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