CIBIL Defaulters List: How to Improve CIBIL Score after Default

1. CIBIL Defaulters List: How to Improve CIBIL Score after Default Finding your name in CIBIL defaulters list, you are in a big problem. Defaulter status is one thing that is really frightening for borrowers. Yes, it is because the status will make you unable to get the other credit card or loan in the future. You will have this status if you already defaulted your loan. But if you don’t have any loan before and have your name listed as a defaulter, you better fix this soon by contacting CIBIL and your bank. How to Check CIBIL Defaulter List Online Therefore, it is important for you to make sure that you are not recognized by the banks and other financial institutions as defaulter. You can simply check your name in CIBIL online. You can simply visit the website to check it. Don’t forget to register first. Everyone on the CIBIL defaulters list has their own problems that need to be fixed. They should remove their name from the list and start improving the CIBIL score until at least 750 to begin applying for a loan or credit card. Get to Know How to Improve CIBIL Score after Default In general, how to improve CIBIL score is the same from one condition to the other condition. If you are on the CIBIL defaulters list, what makes different is that you need to remove it first. Then, follow with these positive actions to improve your reputation. Of course, you need to make payments on time. Your score may be poor currently as the result of default, but it can be increased by always doing on time payments. Keep in mind the due date of your credit card(s). In fact, there is no problem of having multiple credit cards. They will make your life better and easier when you wisely use them. Use all of them wisely, don’t only focus on one card. Then, remember the due date because many problems until noted in CIBIL defaulters list come from this simple problem, forgetting the due date of each card. If 2 or 3 cards are enough, you better have them only because too many credit cards will show that you are credit hungry. Wisely using the credit card also means that you need to refer to the limit. Use not more than 50% of the limits. This means that you need to also remember the limit of each card because different card may have different limit. In addition, you should also be wise in applying either secured or unsecured loans. Secured loans are linked to asset creation, like home loans, and this will positively impact the score. On the other hand, unsecured loans are linked to consumptive behavior, like car loans and personal loans that will negatively impact your score. Be wise to make sure you are not in CIBIL defaulters list. Regularly check your credit report. This is also one tip of how to know where or not you are in CIBIL personal loan defaulter list. Checking is important, especially when you have a bad credit score. Find out what makes you have the score because human errors may reduce your score. Make sure that the actions you do is well noted by CIBIL through your bank report unless you want your name exists in the CIBIL defaulters list.