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Get answers to commonly asked questions related to credit bureaus
Many credit users must be having a question about the defaulter list of CIBIL™, especially while checking their credit reports. However, it is important to note that there is no such thing as a defaulters list with credit agencies. Credit agencies collect and organise data related to every credit user’s repayment history. This data is often exhaustive and includes aspects such as timely payments, defaulted payments, etc.
Any individual who has used some form of credit can get a report from the credit bureau along with information such as repayment timelines. In cases where repayments have been late or not made at all, it will result in a drop in the credit score. Here, we will throw light on some of the important aspects of the CIBIL™ defaulter list that every credit user must know.
There is no such thing as a CIBIL™ defaulter list. Hence, at the time of applying for credit of some kind, the lender will check your credit score as published by the credit bureau. If you have a bad credit score, you may be denied credit or get it with harsher terms like high-interest rates.
Although CIBIL™ does not publish a defaulter list, here is how a credit user can ensure that the credit report does not reflect a poor credit history/credit score:
It is possible to get a loan application approved even if you have a poor CIBIL™ score or report. Here are some of how CIBIL™ defaulters can get a fresh loan or credit:
CIBIL™ defaulter list is similar to having a poor or bad credit report. It is important to check the credit report to ensure that one is not denied loans or credit.
1. How can I check my name in the CIBIL™ defaulters' list?
To check if your credit report reflects a payment default, you must go to the official CIBIL™ website and download the report. For a detailed CIBIL™ report, you have to pay the fees as stated on the website.
2. How many years will CIBIL™ keep a record of defaulters?
CIBIL™ retains credit records of individuals for up to 7 years.
3. How do I get out of the CIBIL™ defaulter list?
Note that there is no such thing as a defaulter list. So, you don’t have to worry about getting your name out of the list. To ensure that you have a good credit score, you must work towards good credit behaviour. Ensure lower credit utilisation ratio and close all pending dues. If your name is falsely appearing in the default list, you can report the same to the credit agency and request for remediation.
4. How can I check my CIBIL™ history?
You can check your credit history by looking up the CIBIL™ report. A free basic credit health assessment can be sourced from CreditMantri and a detailed version can be availed from the CIBIL™ website.
5. Can CIBIL™ defaulter get a loan?
If an individual has improved his/her credit track record and worked towards ensuring good credit behaviour then some banks/lenders may be willing to grant fresh loans.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
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A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
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Is it possible to obtain a free credit check or credit report? The answer is yes and no!
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It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
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First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
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In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
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It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
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