Help needed for my financial life

POSTED BY rameshdilro ON June 14, 2013 7:43 pm COMMENTS (2)

Hi Ashal/all,I took 50,000 Loan in 2007. I paid 6 EMI’s around 18,000. Then after I lost my job and I could not pay money.So many suggested to don go for settlement as the bank won’t send a clean report to CIBIL. After seven years my cibil score will be refreshened and I would get CC/Personal loans. Is this correct??. My credit card applications have been rejected somany times since two years. Even I m not in the position to repay the rest EMI’s to the bank. I need Credit card/ personal loan in the future.Can I go for Credit card against FD to make my score good. Please help me . Regards,

2 replies on this article “Help needed for my financial life”

  1. Dear Ramesh, please avail a Fd linked CC & use it judiciously to improve your score.



  2. Credexpert says:

    Dear Ramesh,

    Since you did not repay the loan, we assume that the outstanding loan amount would have been written off by the lending institution. Written off status is a negative remark and would hinder your future credit applications.

    The fact that your credit card applications have been rejected in the past 2 years validates this fact. You have mentioned that your current cash flows do not allow you to repay the outstanding amount. The best option in this case is to avail a secured credit card and build your credit score.

    Do not apply randomly for credit facilities till your credit score improves as rejections would only imply a credit hungry behaviour.

    We offer a service “Credit Report Analysis” under which we analyse each section of an individual’s credit report and list down the factors that have affected his score. We also point out the steps that have to be taken next to improve his score.

    For more information on our services, kindly visit


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