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Loan Settlement and How it Affects Your Credit Score

Loan Settlement and How it Affects Your Credit Score

What is loan settlement? Loan settlement or Debt settlement is the process of paying off an outstanding debt to a creditor or lending institution at an amount lower than what is due. The debtor agrees to pay through lump sum payments, a repayment arrangement or a combination of both. What is the difference between loan […]

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Ultimate guide to Consumer CIBIL Score

CIBIL score popularity is on a rise these days. This is because it has become one of the most important tools for measuring creditworthiness. The higher your CIBIL score, the better financial products and services you will be eligible for. A high CIBIL score can help you in getting approval for loans quickly and at […]

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Bank Ombudsman Scheme of RBI – A Definitive Guide

RBI recently introduced a new resolution mechanism for consumer complaints regarding services provided by entities regulated by the Reserve Bank of India in an expedient and cost-effective manner. The scheme is called Reserve Bank – Integrated Ombudsman Scheme. Here are the key highlights of the scheme: Centralised Receipt and Processing Centre The Regulation provides for […]

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How to identify genuine or real loan apps and avoid fake ones

Covid 19 has had a significant impact on our lives and businesses, with many people in the need for “instant money”. Loan sharks are now lurking in your smartphones disguised as seemingly legitimate money-lending and borrowing apps. It is estimated that Covid 19 has resulted in over 10 crore people losing their jobs and small […]

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Can you get a personal loan with low CIBIL score?

Many lenders will look at your CIBIL score, as well as other qualifying criteria, when assessing your personal loan application. Can you obtain a loan if your CIBIL rating is bad or low? The Credit Information Bureau (India) Limited is what the name CIBIL means. Other than TransUnion CIBIL (its formal name), there are other […]

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Want to file a complaint to RBI against bank recovery agents?

RBI is the regulator of the banking and financial services sector in India. RBI is authorized to investigate allegations of unfair trade practices, deficiency in banking services and deficiency in service with respect to loans and advances, including those related to bank charges and other service charges levied by banks on customers. If you want […]

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