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Cibil will not report your name to banks if you ask for CIR

Log on to the Cibil website and apply for your credit information report. You need to pay an amount of Rs142 either online or by sending a demand draft in favour of Cibil.

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I have two queries. 1) I don’t remember when I last used a credit card, but I have ‘settled’ most of the accounts with the banks. However, on a recent personal loan application on my salary account, the same was turned down as the Cibil report showed a couple of banks mentioning the word ‘settled’ against my credit card. Is there a way I can find out from Cibil which banks had mentioned this? Will my asking a personal credit report be reported to the banks by Cibil? 2) After about five years, I am getting calls from a bank that claims I had spent some amount on their card account. I have never received any statements for the last 4/5 years regarding this. Is it possible for the bank to lodge a case against me without sending any statements to me? Is there a policy wherein they have to send me a notice first and then go for a court issue? — S Biswas
You can certainly get a report from Cibil. Log on to the Cibil website and apply for your credit information report. You need to pay an amount of Rs142 either online or by sending a demand draft in favour of Cibil. You need to submit the form along with the documents mentioned in the form. Cibil will not report your name to the banker just for asking a report. Your second query also gets answered as by having a look at the report you will know which banker is calling and for what purpose. On getting the report, you can contact the banker concerned asking him to clarify and send the relevant statements/particulars. Before initiation of any legal proceedings, it is obligatory to send demand/legal notice to give the party time to make the payment. If the party concerned does not make the payment within the time-frame, the bank can file a suit for recovery of its dues in a court of law.

My home loan of Rs13 lakh has been sanctioned by a leading nationalised bank. At present, I do not have any savings account with them and they have insisted that I get one. Also, they told me that there will be a separate loan account in my name at the bank. First, do I need to have two mandatory accounts to avail loan? Second, they have asked for PDC for 12 months (every year for the next 15 years). Is there a facility wherein I can link or issue a letter to my salary account (another bank) to debit EMI to my home loan account?
 A savings bank account is needed to ensure operations of both credit and debit transactions. Loan account is basically a debit balance account and whatever amount is credited will be appropriated in the loan account. Hence, it is necessary to have two separate accounts. If your salary account is also maintained in the same branch you can give a mandate to debit your account on a specified date and the bank will automatically recover the EMI on the specified date. This will save you the trouble of keeping track as the bank will do the needful for you. Alternatively, you can give ECS mandate whereby the bank can recover its dues from the account maintained with the other bank. You need to be careful to see that sufficient balance is maintained. Otherwise, apart from paying charges, you run the risk of the bank initiating criminal action for bouncing of ECS as is done in the case of return of a cheque.

The writer is chief counsellor, Abhay Credit Counselling,
a trust sponsored by Bank of India. He will answer credit card and loan queries and can be reached at dnadebtqueries@gmail.com

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