Urgent Assistance Needed: CIBIL Score Improvement for Home Loan Approval

Ganesh_Shinde

KF Rookie
Hello All,
I hope this message finds you well.

I am writing to seek your assistance in improving my CIBIL score as my home loan applications have been consistently rejected. Between 2018-2022, I faced a challenging period due to a medical emergency, which led to the utilization of all my available credit. I have valid proofs for this unfortunate situation. To provide you with context, I had 4 credit cards with an average limit of 1 lakh each, and an overdraft account with a 2-lakh limit. Additionally, I own a plot loan of 12.00 Lakhs. Unfortunately, all these accounts have been written off, with 900 days of DPD .

I took proactive steps to address my financial situation. I closed one credit card in August 2021, and the remaining 3 were closed in March-April 2023 without any one-time settlements or negotiations. Moreover, I cleared all outstanding EMIs for the plot loan and have been consistently making on-time payments since then.

Despite these efforts, my CIBIL score only increased by 20 points. According to the CIBIL simulator, my score should be 724, but it currently stands at 688. I have not made any new loan inquiries in the past 4 years. This year, I made 3 home loan applications, all after clearing my existing dues.

I am in urgent need of a home loan, and I find myself stuck due to my low CIBIL score. I have provided all necessary justifications, including medical documents and proof of investments totaling 20 Lakhs, which include stocks, NPS, EPF, PPF, and land holdings. Despite this, my applications have been denied due to bad credit history.

I am reaching out to request your help. If any of you can guide me to a reliable platform or expert who can assist me in identifying and rectifying the issues affecting my CIBIL score, I would be immensely grateful.

Thank you for your time and consideration. Your support in this challenging time means a great deal to me.
 
Last edited:

17ysaurabh

KF Mentor
I would suggest to start with the basics. If you are not already using it, start using the OneScore app. It'll give you monthly updates about your Cibil and Experian scores.
Using the OneScore app, check the following things:
  • How many types of accounts do you have? Like credit cards, loans, pay later services, EMI etc.
  • Check your credit utilisation ratio every month and make sure it is less than 20%.
  • Stop applying for loans for a few months. Make sure your enquiries are none.
  • Keep track of derogatory remarks as well.
 
Last edited:

ShavirB

Founder
Staff member
Hello All,
I hope this message finds you well.

I am writing to seek your assistance in improving my CIBIL score as my home loan applications have been consistently rejected. Between 2018-2022, I faced a challenging period due to a medical emergency, which led to the utilization of all my available credit. I have valid proofs for this unfortunate situation. To provide you with context, I had 4 credit cards with an average limit of 1 lakh each, and an overdraft account with a 2-lakh limit. Additionally, I own a plot loan of 12.00 Lakhs. Unfortunately, all these accounts have been written off, with 900 days of DPD .

I took proactive steps to address my financial situation. I closed one credit card in August 2021, and the remaining 3 were closed in March-April 2023 without any one-time settlements or negotiations. Moreover, I cleared all outstanding EMIs for the plot loan and have been consistently making on-time payments since then.

Despite these efforts, my CIBIL score only increased by 20 points. According to the CIBIL simulator, my score should be 724, but it currently stands at 688. I have not made any new loan inquiries in the past 4 years. This year, I made 3 home loan applications, all after clearing my existing dues.

I am in urgent need of a home loan, and I find myself stuck due to my low CIBIL score. I have provided all necessary justifications, including medical documents and proof of investments totaling 20 Lakhs, which include stocks, NPS, EPF, PPF, and land holdings. Despite this, my applications have been denied due to bad credit history.

I am reaching out to request your help. If any of you can guide me to a reliable platform or expert who can assist me in identifying and rectifying the issues affecting my CIBIL score, I would be immensely grateful.

Thank you for your time and consideration. Your support in this challenging time means a great deal to me.
Hi, when did you last check your Credit Score? Asking because Credit Score is supposed to be updated every month..
 
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