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Q. Bike Loan Not paid

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Rahul Kumar

posted 3 months ago

Q.Bike Loan Not paid
In 2016 i bought a bike on EMI but due to some circumstances i was not able to pay loan amount and now when I checked my cibil report i found that the status of my bike loan is showing as suit filed wilful defaulter written off - So what does it mean and what will happen next to me and how can I protect my self

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 3 months ago

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A. ) Dear Sir,
Now, you are free from that liability as loan was legally written off. Better share the relevant documents for more guidance.

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Shreyash Mohta

Experience: 1 Year(s)

Responded 3 months ago

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A. ) In other words, it means you have paid off your loan in full and the bank has reported this account as "Closed" to CIBIL. ... Written Off: When you are not able to make payments against the outstanding loan/credit card amount for more than 180 days, the lender is required to "write-off" the amount in question.
Thanks

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Rahul Kumar

Replied 3 months ago

So how can i remove it sir what can i do now to improve my cibil record

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Shreyash Mohta

Experience: 1 Year(s)

Replied 3 months ago

Your loan has been waived off and to improve your score you must keep paying installments in time from the next time you take any loan.

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Suneel Moudgil

Experience: 15 Year(s)

Responded 3 months ago

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A. ) you won't get any loan until above comment remained in your CIBIL status

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