Legal Question in Banking Law in India
Dear sir when we check the cibil report the loan account status has been showed account closed and over due current balance becomes 0 and in the status section its shows settled what is the meaning of it and bank can still ask for the balance pls reply
Thanks & regards
Asked on 2/09/15, 10:16 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
10.02.2015
Dear Sir / Madam,
CIBIL updates borrower status based on the information and inputs it receives from the lending Bank. So if the Bank still says that there is an outstanding balance in the loan account, you may show the CIBIL Report to the Bank for their information.
Regards,
Answered on 2/10/15, 8:38 am
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