How to remove SUB and LSS from CIBIL report?

 

In some special cases, we notice that SUB (Substandard) & LSS (Loss) are mentioned in the repayment history in the CIBIL report. If a customer received a loan from any PSU/NBFC Bank, and he/she could not pay the EMI amount for a long time, then the account considers an NPA (Non-Performing Asset).

 

In that case, SUB (Substandard) can be mentioned in the repayment history from 91 days to 12 months.  

If the repayment delay days are more than 12 months, then the account became DBT (doubtful). For that, the account can be considered as a loss account, and LSS (Loss) will be mentioned in the repayment history.

                  Picture 1: repayment delay days mentioned as SUB & DBT

In picture 1, we notice that repayment delay days are defined as SUB initially and became DBT to be mentioned as a loss account.

Since we are providing CIBIL rectification service, so we analyzed a huge of CIBIL reports. From that experience, we can say that most of the NBFCs represent repayment delay days in terms of DPD (Days Past Due). Where DPD is defined as the number of days of delay payment from 0 to 900. 

Picture 2: Repayment delay days are defined in terms of DPD(Days Past Due)    

       In picture 2, we can observe that delay day are represented in terms of DPD in the repayment history. It increases gradually like 008, 039, 070, 105, …….312, 343. 

Picture 3: DPD increases gradually up to 900 days.

If the repayment delay days are more than 12 months, then also it can be mentioned as a DPD. As we see in picture 3, DPD increases like 297, 329, 358, ….. 878,900,900………900. DPD’s maximum value is 900. If the delay days are more than 36 months then DPD is shown as 900 repeatedly. 

               Picture 4:  Repayment delay days are mentioned in terms of SUB 

 

But now day, in most of the PSU banks repayment delay days are defined as SUB as shown in picture 4. Which has a more negative impact on CIBIL score than DPD. And since these all are genuine, that’s why it’s very difficult to remove this kind of SUB from the account. 

That’s why every customer should be careful about their repayment history in the CIBIL score. Sometimes SUB & LSS are shown in repayment history by mistake.

 

Now, we try to understand the different types of cases that happened with customers. And how to remove that kind of SUB & LSS from the CIBIL report.

In picture 5, the customer closed the account, but at the last of the repayment history, SUB is mentioned.  

                 Picture 5: SUB is mentioned as the last of the repayment history.

 

 

1.    If the customer closed the account with settlement and there are some amounts are remaining to pay to the bank. In that case, SUB can be shown in the last of the closed account. For that customer can follow these steps-

i.                   First customer enquires to the bank about the exact amounts, that he/she needs to pay further. Also, collect the NOC of the account from the bank.  

ii.                 Raise a dispute in CIBIL.

iii.              Write a complaint letter to CIBIL with the NOC and all documents.

2.    If the customer paid the entire outstanding amount and close the account. And he/she already collected the NOC from a bank. But still, there is SUB shown in the last of the repayment history. 

Then it may be a mistake by CIBIL. For that customer can follow these steps-

i.                   First raise a dispute in CIBIL.

ii.                 Write a complaint letter to CIBIL with the NOC and all documents.

Read More:

1. How to remove the "written off" status from the CIBIL report 

2. CIBILSCORE REPAIR AGENCY 

3. CIBIL Score Repair Agency near me

Should you check CIBIL report before applying for a loan?

 

Before applying for a loan in any bank or financial sector do we need to check or CIBIL report? Is it important to do it?

This is today’s topic.

I have been working as a CIBIL score repairer for years and I am going to answer this question with my own personal experience.

A month before a customer came to me with a problem in his CIBIL there is an account where loan payment wasn’t done properly. And customer confirmed to me that he has paid all loans properly.

I was not sure about the exact problem with his CIBIL report but I doubted it could be a data mix problem.

So I asked him to send his CIBIL report so that I can verify it properly.

Once I got the CIBIL report I found out that there is one ICICI bank account in which the loan payment wasn’t done properly. Then there are 6 to 7 other account loans which don’t belong to the customer.

Then I confirmed that it was CIBIL data mixing error and it was fixable.

My customer’s main problem was that he applied for a home loan but got rejected. The reason for this rejection is baa d CIBIL report.

He requested that clear all the errors from CIBIL and also help him to get a home loan from a bank.

But to rectify a CIBIL report it takes about 45 to 60 days at least.

Once we raise a dispute CIBIL informs us that it will take about 45 to 60 days to get the problem solved. But in many cases, this doesn’t happen. It takes more time.

 Now the problem arises that the customer has to purchase the house within a month or else his real estate agent will sell it to someone else. My customer even paid 2.5 lacs for the flat which will be forfeited.

Customers go super tense due to this problem.

So this shows how important is it to check your CIBIL before applying for any kind of loan in any bank or financial sector.

 

If you know your check CIBIL score or report first then you will get these benefits:

1.    You get a loan from a good bank and if the bank is good then the rate of interest will also be good.

2.    If the rate of interest is less, then loan enhancement will be done easily.

3.     If you didn’t check your CIBIL report beforehand and then applied for the loan. Your loan will be rejected due to a low CIBIL score. now then again you applied for a loan in some other financial institute it will go further down. Then you will never get the loan again.

4.    If you are aware of your CIBIL score this will give you an edge. You can bargain for a good rate of interest with the bank and financial institute.

5.     If your CIBIL score is good, many banks don’t charge you a processing fee.

6.    If your CIBIL score is good and the rate of interest is less then the best advantage is you will save your own money. 

Example: if you are purchasing a flat and for 20 years, you have to pay 20000 instalments.  Just because your rate of interest is less you get to save 1000 rupees every month. 

This 1000 rupee was put in sip for 20 years. it will pay you off well. By then your loan repayment will be complete.

 

So, the bottom line is that you should always check your CIBIL report before applying for any loan. This will give benefits which will make your life easy.

I have made a YouTube on how to read the CIBIL report. The link is given in the description.

Read More:

1. Savings account damaged my CIBIL score! Current account affected  CIBIL Rank 

2. How often CIBIL Score is updated 

3. CIBIL Consultant Near me

Savings account damaged my CIBIL score! Current account affected CIBIL Rank ?

 

Today’s topic is whether having a savings account affects your CIBIL score?

Before answering this question, I would like to tell you that before making this article I google the exact same question on google.

In Google, it mentioned that a saving account does not affect your CIBIL score. it’s true because a savings account is meant for your savings. 

The CIBIL report is prepared on the basis of your credit or loan account. The individual credit report is called an individual credit report.

On a different website, I read that no matter how many transactions you do in your savings account or if you get any negative charge on your saving account it has no effect on your CIBIL.

I have searched for this on YouTube. I have found two videos, and in both of them, it is said that savings and the current account don’t show in the CIBIL report. 

I run a company named Naskar Financial Services, in which I and my team work on correcting CIBIL errors and boosting CIBIL scores.

In the past few months, many clients came to me that their current and savings account in my CIBIL report.

So today I am going to share with you all the information about this topic.

Case study 1: one of my Kolkata customers came to me with a problem with his commercial credit report or company account there is one current account detail.

In the above CIBIL report, you can see that it's mentioned as an ICICI bank overdraft account, not a current account. The overdraft-sanctioned amount is around 11000.

I enquired from the customer whether he took any overdraft facility? He said he didn’t apply for any such thing. He also informed me that the bank has charged a few amounts on this account which he wasn’t aware of. 

He launched a complaint. His total bank balance was gone and 5000 rupees negative balance showed in the account instead.

Generally what happens in some well-reputed banks, is that if they are happy with your transactions then they will give you an overdraft facility.

 

His CIBIL report, it's showing standard and his balance is also zero. In the repayment schedule, it's mentioned as DPD. The DPD remark on your CIBIL makes a bad impact on your CIBIL whether it’s a company CIBIL or individual CIBIL.

Case study 2: Next we have a customer from Orissa. He called me up and Informed me that there is an account whose balance is less than 200 but it has sanctioned limit. 

Afterwards, we look into this account and found out that it was his savings account. this saving account is not maintained by the customer anymore.

 

Case study 3: I had a third customer from Mumbai, complain that in his CIBIL report he found two savings accounts. one account has a sanctioned limit of 325 rupees.  

This account has an overdue amount of Rs325. This account also has the status LSS (LOSS). LOSS MEANS an account where loss has been identified and remains uncollectible.

In his CIBIL it comes as an overdraft account, not a saving account.

This is his second overdraft account whose sanctions overdraft is 110 rupees. His overdue amount is zero and even his payment history has no negative remark.

These two accounts have created a bad CIBIL report for the customer.

Case study 4: the fourth customer is from Kolkata. He opened a savings account in axis bank 7 years back. When the bank person opened his savings account, he was told that he will never need to pay any amount for transactions. 

But later on, it was found that due to his transactions money was deducted and his balance was gone. His current balance was negative 3000 rupees.

He launched a complaint against his bank and requested them to close the account immediately.

Then when he applied for a loan, he got rejected.

In his CIBIL this account is seen as closed, with no due, and no current balance but the status is shown as written off. The written-off status is the worst kind of status in your CIBIL report.

 

I have been working as a CIBIL repairer for the past 10 years. In the beginning, I used to work for some company that time I had 3 salary accounts in HDFC bank. When I used to work, I used to get zero amount saving account. 

I frequently changed jobs. The first two accounts were normally transferred to a saving account. bank pressed maintenance charge on the accounts and finally, they decided to close the account. one account remained open, which was later closed to me.

 I wrote a letter to the bank asking it to close my account and I didn’t pay any charges for that account.

These accounts never showed up in my CIBIL report, though all of them were savings accounts.

I have many current accounts in different banks. One of the banks did suspend my current account which had a cc limit. but non of these accounts showed up in my CIBIL report at any point in time.

 

Now if any of having any savings account in their CIBIL report, then it could be removed. You have to visit that bank and ask them to close it. You may have to pay off the due amount.

 If they don’t agree then contact customer care and tell them your problem and send them a CIBIL credit report. Also, tell them you are ready to pay off the balance.

One’s you get the demand amount pay it off and collect the NOC. This takes up to 45 days to get your CIBIL report updated.

 Sometimes even after 45 days, this update is never done. The reason is credit account is updated one’s every month but the rest account is left untouched.

 

How to correct the CIBIL report, I have made a video on YouTube. Please go and check it. The link is given in the description.

Read More:

1. How to remove SUB and LSS from CIBIL report?

2. Improve CIBIL score from 0 to 750+      

3. CIBIL SCORE REPAIR AGENCY

 

Increase CIBIL score from 550 to 750+ | CIBIL score calculation method

 

The topic for today’s discussion is how to increase your CIBIL score from 550 to 750+ and also how TransUnion CIBIL calculates the CIBIL score.

 

Naskar financial services expertise on how to correct your CIBIL and how to improve your CIBIL score. many customers come to me and request that their CIBIL score has gone down from 650 please boost it to 750. 

Then they will be eligible for getting loans from any financial service or banking sector at a low rate of interest. Other customers request I boost their CIBIL score to 720/730 from 620. 

Customers whose score has gone down to 500 they want me to raise it to 700 at least.

 

Now the problem is that we can’t push or pull CIBIL score from any side to raise it. TransUnion credit bureau has its own algorithm to calculate the CIBIL score on the basis of customers’ loan history provided by different banking and financial sector. 

TransUnion credit bureau doesn’t disclose its algorithm process to general people. But they have given us a little overview on how they mark CIBIL score for an individual customer.

These are some of the points they focus on:

1.    Loan repayment history: when you take a loan from any bank, you should always pay off its Emi on time without failing. This repayment can fetch you up to 30% to 35% CIBIL score from the TransUnion credit bureau.

2.    Credit Exposure

3.    Credit type and duration

4.    Others

The above-mentioned points are vital for your CIBIL  score marking. But how much will they score on the points it’s hard to say.

From my personal experiences, I will share with you a slight idea of how this CIBIL bureau marks you.

Once I took a small loan and after paying 3 instalments, I found out that my CIBIL  score is about 720+. After completion of all my instalments, my score got raised to 750+. 

I have seen a few clients of mine who have taken just a single personal loan, paid its due properly and their score stands 780+.

Now you might wonder why you have taken so many loans (car loan, home loan, credit card loan) still your CIBIL score is downward sloping. The reason is that taking a huge number of loans isn’t the key to a good CIBIL score, but paying it off without missing a single day is the ultimate key.

If your CIBIL score has reached below 550. then the reason is that your repayment structure is bad. You are missing your Emi’s payment dates and you may even fail to pay off the amount taken as a loan. 

Your CIBIL may should this status write off, due payment and maybe you have gone for settlement.

Once you get your CIBIL report check for the given points in your CIBIL report, and you yourself will see the loopholes.

I have made a video on how to correct your CIBIL report on YouTube. Check the video for further guidance. The link is given in the description.

   The more you delay your Emi’s the score will sink to the ground. In this way, your loan account will reach the write-off stage and then your CIBIL score will be really bad.

Things that can be done to enhance your CIBIL score are as follows:

1.    Clear your due amount: one of my clients delayed his loan payment. Hence his CIBIL overdue status was shown and the CIBIL score got down. But the main thing is that customer wasn’t aware of this overdue status.

     When I saw his report, I pointed out the problem and suggested he pay it back. As soon as he cleared off his overdue payment his CIBIL score spiked up.

2.    Credit card write-off: one of my clients came to me with a CIBIL score of 620+. She said that she had taken a credit card loan from SBI and failed to pay it off. Hence bank has marked it as a write-a off. 

     She wanted to clear the status which will raise her CIBIL score to 720 and will be eligible for a loan.  After going through his report, I suggested she pay off all the amount. Then within 45 days, her CIBIL score reached 720+.

3.     Delay payment status not removed: one of my clients took two different loans from two banks. SBI credit loan and HDFC auto loan. She didn’t pay off the loan in both cases, irregular payment and hence led to delay payment.

     I suggested that pay off the HDFC loan and the due amount. That got her 25 hikes on the CIBIL score. but the main problem is that in some cases banks don’t prefer removing the CIBIL payment status from the CIBIL report. Hence the score didn’t raise to a higher mark. 

Now the bottom line is that the only way you can raise your CIBIL score is by paying off your debts. Remove all statuses like overdue, settlement and write-off from your CIBIL report. 

Only doing this won't fetch u a good CIBIL score. you might have to take a small gold loan and pay off its Emi on time and properly. 

Then you should also take a credit card loan and pay its EMI on time. In this way, your CIBIL score will be slowly raised to the top.

 

How to rectify your CIBIL report, I have made a video on YouTube. Go ahead and check it. link is given in the description below.

You can contact us if you face any challenges with your CIBIL report correction or CIBIL  score. 

Read More:

1. Improve CIBIL score from 0 to 750+      

2. How to remove "written off" status from the CIBIL report 

3. How to remove Post Written off Settlement from the CIBIL report

Improve CIBIL score from 0 to 750+

 

Today we are going to discuss how to increase your CIBIL score from 0 to 750+.

Suppose you wanted a secured loan from a good financial institute with less rate of interest. Just because you have a low CIBIL score your loan gets denied. The CIBIL score required in this financial institute is 750+ or close to 750.

Then you checked your CIBIL  report and found out that the score is 0.

Now you must be wondering when a person gets a CIBIL score 0 

The answer is simple, if you have never taken any loan from any financial institute or bank, then it shows zero. You even don’t have a credit card. You have never been a guarantor for any friend or family member and also u have never been a co-applicant. Hence the score shows 0.

Now how to raise your zero scores to 750+? And how long will it take to raise your score?

Today I am going to share my personal experience and tips in which your CIBIL score will raise to 750+.

I took a small loan and paid it off within 3 Instalments. Then I checked my CIBIL score it took a hike from zero to 729. Then after that 8 months when I checked my CIBIL report the score was about 746.

I have a big brother who took a personal loan and one year later when I checked his score it was 780+. Before taking this loan, his score was -1.

-1 and o score is given to those who never took any loan or didn’t have any credit card.

Just apply for a single loan and your CIBIL score will be raised to 720.

If you want to raise your score up to 750 within a year then take 2 loans and pay of its Emi properly. You will easily achieve your target without doing much.

If you have a good credit mix then your CIBIL score will be good.

Take a consumer loan along with a gold loan. You can add a third loan to your list. Then the score will automatically increase.

All this process will improve your score and will build a strong CIBIL  report.

 

The only thing you need to keep in my is to pay off your Emi without fail and on time. If you fail to do so then you will take time to reach a 750 score.

Once your CIBIL score falls, it takes a huge time to recover back.

Suppose your CIBIL score is currently 750+. then you took a loan, you failed to pay it off properly then your CIBIL score went down to 650. Now you have to work really hard to get it back to 750+.

The first time when you took a loan and reached 750 was easy but this time it might take years just to reach your previous position.

If somehow your CIBIL score is less than 500 and you want it to reach 750. Then I have made a detailed YouTube video which will help you to gain the score.

The link is in the description below.

When the CIBIL score shows “NH”?

 Suppose you took a long 5 years ago, and u paid off the debt without any problem. Then you didn’t take any loan or credit card loan for 3 years or more, your CIBIL report will not be updated and it will show you NH.

 

If your CIBIL score is bad or the  CIBIL report is weak, how you will rectify it? I have a detailed YouTube video. Please check, the link provided in the description. 

This will help you improve your CIBIL score.

Read More:

1. How to remove the "written off" status from the CIBIL report?

2. CIBIL SCORE REPAIR AGENCY

3.Increase CIBIL score from 550 to 750+ | CIBIL score calculation method  

How to remove "written off" status from the CIBIL report ?

 

Suppose you have applied for a loan from PSU or a Private bank, and suddenly you get to know that your loan application has been rejected. after talking to the bank manager, you find out that there is a written-off status in your CIBIL.

Written-off status is a very bad status in your CIBIL report. You will face tough challenges in getting approved for any loan. Most of the reputed banks and financial sector will just cancel your request.

Myself Ramesh Naskar I have been working for years as a CIBIL repairer. I have many clients who came to me with this written-off issue.  

So today I am going to tell you the process and methods that will help you to remove the written-off status from your CIBIL. And then you will easily get a loan.

Now the first question is why do we have written off status in our CIBIL report?

If you don’t pay your loan money then it will be marked as written off in future. But just because you didn’t pay your loan payment it will not show you written off. Banks and every financial institute have processes that they follow.

 Now the process is if the customer is failing to pay off his/her emails then, the bank is going to press charges like bouncing charges, and overdue charges and the loan amount reaches a high point. 

Bank can’t continue adding charges to this account. this account is considered an asset. If the amount can not be collected back then it is a loss account for the bank. Bank will then close the account in their books by making it a written-off account.

After the bank has considered the loan account as Another reason for loss or written off, then it will be seen as written off in your CIBIL.

 Other reasons for showing written off is when some other client’s account details are wrongly updated in your account. this is called a data mixing error.

If you have taken some loan from any PSU bank and then made a settlement for that account. then in that case few banks show written off in your CIBIL status. In this case, it is possible that the current balance and overdue are zero. Even the account is seen closed. But still showing written-off status.

Private banks prefer to do settlement after written off and hence the status is shown as settlement or PO written off the PSU settlement.

In my career, I have seen many cases when PSU bank never removed the written-of status even after the settlement is done.

 

Now let’s go back to the question of how to remove written off from the CIBIL report.

1)    Data mixing: if the written-off is seen in your CIBIL because of a data mixing error. Then you can simply raise a dispute in CIBIL and ask them to remove it. 

     Inform them about the account does not belong to you. They will remove it within 45 days after the dispute is raised.

2)    Fail payment: if you have taken some loan and because of your financial problem you couldn’t pay it off. 

     Then it will automatically get to the point of being written off. The best solution, in this case, is that you have to pay all the money and then the written-off will be removed by their end. The important thing you need to know.

If you have a written-off account many years ago example 5 years ago. You don’t have to pay only the amount that was written off. The bank won’t put charges and penalties for 5 years.

Don’t compromise your written-off amount, because it will then show as PO written settled.

 This will give a bad effect on your CIBIL report. You won’t be able to take a loan in near future.

3)    Asset reconstruction company: sometimes when you have taken a loan from a bank or any credit institution long back ago. You couldn’t pay off the loan at the time and it was written off from the bank.   

     Bank has the authority to sell that account to some asset reconstruction company. Then in the CIBIL, it will show some other companies’ names like Kotak bank, and phonics.

This type of company buys off the dead asset account and then collects the money. in this case the amount gets more than written off status.

I have a  customer who had taken a consumer loan from Bajaj finance. He paid the last few Emi in cash to a collection agent. The collection agent took the money and gave the customer the receipt. my customer made a wrong move which was he didn’t collect NCO from Bajaj.

After 5 years when the customer checked his CIBIL report, he was shocked to find that there was a loan account with Bajaj finance as a consumer loan with 83000 overdue amounts.

When he came to me, I told him about this loan and its actual written-off status is 3000. He told he has already paid that consumer loan amount long back and he also talked about his last 4 Emi paid in cash.

After this discussion, I directly went to the Kotak bank ARC department which asked me to provide the statement for this account. The recovery manager gave me the Bajaj finance report, which was huge in a number of pages. 

After checking it I found out that Bajaj has charged overdue 2 or 3 times per month. I asked question that is there any new rule to charge overdue 2 to 3 times for a single month. 

I informed him about the payment made in cash by the customer and showed him the payment receipt.

Kotak bank manager told me that as the customer has paid his dues, he doesn’t need to pay much amount now, just pay 5000. His loan account will be closed.

 In cases like this manager ask the customer to pay half of the amount of 83000. And customers do pay them because they fear if they don’t pay then they won’t be able to take a loan in future. 

 The written-off status is 3000 any amount more you pay them it’s your loss.

You paid off the PSU bank loan amount still the status shown is written off. If you don’t clear the written-off status then you won’t be able to get a loan from any bank or financial institution.

To remove this status, you have to pay off the written-off amount. Contact the bank to pay your deficit amount and then don’t forget to take NCO and payment receipt.

After this mail bank’s customer service and CIBIL about the payment made by you and get the written-off status removed.

Read More:

1. How to raise a dispute in the CIBIL report 

2. How to write a complaint in CIBIL 

3. Increase CIBIL score from 550 to 750+ | CIBIL score calculation method