Are you Lending your Mobile Number or Email ID:
In developing countries like India where due to IT revolution communications facilities are being upgraded from 2G to 4G and the most of the public is using mobile sets with prepaid SIMs, the public is frequently discarding old mobile numbers and it has become a fashion in India for people with doubtful integrity to discard their old mobile numbers. The individuals who do not have any mobile number of their own prefer to provide the mobile numbers of their nears and dears in their bank accounts or other commercial transactions.
Only yesterday a customer, whose request for Personal Loan was rejected by the Bank due to poor CIBIL Score whereas she never defaulted in repayment of any of her loan with the lending institutions. She was very much perturbed to see her Low Credit Score. On getting advice from her bankers she decided to contact CIBIL Consultants for resolution of her problem to get the Credit Score rectified and reviewed by credit rating agencies like CIBIL, Experian, Equifax and High Rank.
Our Panel of Experts examined her credit report which included the Loan Accounts in Default with particulars undisclosed. The matter was taken up with the credit rating agencies who removed the unhealthy loan accounts which crept in the credit report. But our panel of experts did not stop here. Our team wanted to know why the loan accounts of others crept in her credit report.
On checking with the lending institution of one of the loan account in default, it was noticed that the loan account belonged to one of the close friends of the lady who contacted us. When our team inquired further it came to our notice that the close friend of the lady had given the mobile number of that lady to her lending institution while availing the loan. Now when the CIBIL report of the lady was drawn by her banker by providing her mobile number – it fetched the loan account details of the said friend of the lady as it was linked with her mobile number. While we could convince the credit rating agencies to remove the account from the report but to ensure that the account is not fetched again – the lady was advised to get the loan account of friend unlinked from her mobile number.
Beware and never allow any of your near and dear to give your Mobile Number, Email ID or Physical Address to their lending institutions. It can change your Credit Score drastically depending upon the credit history of your nears and dears to whom you have lent your Mobile Number, Email ID or Physical Address.