[ARSASLG]

They will send recovery agents, euphemism for gundas to ur parents house and torture them till u repay the money. see the film EMI for detials

[Fockstar111]

Originally Posted by k2soni

a default once reported stays on the list for five years only.

So after 5 years an individual can get another loan????
N i ve heard that these CIBIL guys can remove the defaulters if bribed???
Is it true coz i ve a same case for a credit card amount of 20000 which i dont want to pay as HDFC has fucked my case w.r.t extra charges n insurance policies..

[pleasure giver]

Originally Posted by hopeless don

Its not CRISIL It is CIBIL (credit information bureau India ltd )

OOPS, sorry......... Typo error due to hurriedness to log out of exbii and go somehere urgently........... Sorry for that............ CIBIL is correct.........

[Human 1024]

Husband of my aunt (they are separated for years now, but not divorced) took loan on her name when they lived together. He fled then. Bank people kept pestering my aunt for years. Don't know what's the status now...

[kdasaint]

as some of the members pointed out, the effect will be on your ability to get loans in the future

[Srivatsan Nadathur]

Default can have other repercussions also. The bank will approach your erstwhile employer and try to get any outstanding amount the company may owe you.
This apart, if your future employer refers you to your earlier employer, then the latter will give an adverse report about you and that could completely ruin your career.

[deepluck]

Originally Posted by pleasure giver

I am a field officer for loans in PSU bank... .......given to CRISIL (Credit Rating and Information Services of India Ltd) -----will not figure in CRISIL or CARE database as loan defaulter to a bank.....

Originally Posted by pleasure giver

OOPS, sorry......... Typo error due to hurriedness to log out of exbii and go somehere urgently........... Sorry for that............ CIBIL is correct.........

man u even typed the abbreviation, how cud it be a typo error
and then u complimented it with writing CARE which is an another rating agency.
sorry mate, dont want to be critical, but it was hilarious

@TS
the Bank cant do much.
The worst cud be
1. u wud be a rated as defaulter there by affecting ur rating in CIBIL and prospect of future loan applications
2. If u had given post dated cheques, u cud be facing cheque bounce case under section -138 of NI act, but again ur address is changed, it wont go too far bcoz the address on which summons need to be served wud have been changed.

They cant harrass ur parents.
Better to pay and live peacefully. Even if u pay small amount in regular interval, the Bank may go easy on u.

[DHANA1968]

Originally Posted by kdasaint

as some of the members pointed out, the effect will be on your ability to get loans in the future

@TS
the Bank cant do much.
The worst cud be
1. u wud be a rated as defaulter there by affecting ur rating in CIBIL and prospect of future loan applications
2. If u had given post dated cheques, u cud be facing cheque bounce case under section -138 of NI act, but again ur address is changed, it wont go too far bcoz the address on which summons need to be served wud have been changed.

They cant harrass ur parents.

[DHANA1968]

N i ve heard that these CIBIL guys can remove the defaulters if bribed???

[in my knowledge]

[shawn_smith]

will be black listed