Regarding defaulter cibil

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A client has a CIBIL score showing them as a defaulter due to an old personal loan from Citi Finance, with Kotak Bank listed as the lender. Despite paying 20 out of 36 EMIs, payments stopped in 2008. To resolve this and improve their credit score for a new vehicle loan, the client should pay the outstanding balance. While this stops further negative impact, a good credit history over the next 6-12 months is needed for score improvement. They can also dispute any inaccuracies on their CIBIL report.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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14 March 2024 sir one of my client taken personal loan from citi finance in 2006 and he paid 20 emi's out of 36 emi's, after 2008 no one came to collect emi, but now he wish to get vehicle loan and his cibil score showed him as defaulters and as lender kotak bank name shows with balance amount
now he wish to pay so please guide how to resolve issue and his cibil will improve
regards
Vikas

RAJA P M

RAJA P M (Expert)
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15 March 2024 Pay the balance EMI

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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13 August 2025 Paying off dues won’t immediately restore the score, but it stops further negative impact.
A good credit history for 6-12 months after repayment will improve the score.
Your client can also dispute any incorrect info on CIBIL report through the CIBIL website.

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