Credit Information bureau India Limited(CIBIL) collects and maintains your personal information and records of your payments pertaining to loans and credit cards. This information is then used to create credit information report(CIR)and credit scores which are provided to lenders in order to help evaluate and approve/reject loan applications/credit cards

Major factors affecting CIBIL score are following:

• Credit History: Credit history carries most weight. 30 per cent of your CIBIL score is affected due to delay in payments.
• Credit mix and duration: Too many loans and credit cards affect about 25 per cent of your CIBIL score.
• Credit exposure: 25 per cent is when the credit limit is increased.
• Other factors: 20 per cent is attributed to other factors.

Buying a credit report from credit bureaus like CIBIL doesn’t help in understanding the fine nuisances in your report. As  there is no reference range defined in the credit report, you can’t be assured of  availing an approval for your future loans.

DEBT CONSULTANT has all the answers and solutions. We advise you to reach us well in advance helping you to secure loans planned in future.

“Bad Credit” refers to instances where your credit history records are marked negatively. There could be multiple reasons – records not updated by lending institutions, settlement not closed properly, need for settlement on certain issues and so on.

Our experts have immense experience and contacts in the banks and lending institutions to deal with such cases. Not only our experts will fix these errors, they will also guide you on how to improve your credit score, that will highly enhance your chances of loan getting approved in future.

When you opt for our “Debt Negotiation & Settlement” service, our experts negotiate with the credit card or other loan companies explaining the circumstances for delay in payment in order to reduce the total amount that you owe. This includes reduction or waive off the interest accrued, late payment charges, over limit charges and other finance charges. Based on your situation and circumstances, we negotiate on the amount owed by you .

On other hand, settling your debts yourself may prove very difficult, as banks would rather try to pressurize you for the full payment, as long as they know are dealing with you alone and doesn’t have any professional or legal support.

Depending on how soon you provide your documents, we intend to resolve the cases really quick. This could be anytime between 1 week and 1 month.