Legal Question in Banking Law in India
Recovery of unsecured loan: One Time Settlement (OTS) will not assure me a Home Loan. One Time Settlement of unsecured loan would make me ineligible for home loans for the next seven years, Please clarify? OTS will not improve my scoring or credibility so What is the Solution and how can I remove my name from CIBIL?
Asked on 2/16/16, 9:21 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
16.02.2016
Dear Sir / Madam,
Your presumption that an One Time Settlement (OTS) will make you ineligible for obtaining a fresh loan for the next seven years is incorrect. It remains the best way to clear your Credit Information Bureau of India Limited (CIBIL) record.
Regards,
Answered on 2/16/16, 9:29 am
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