CIBIL Rectification Services have its own limitations as Credit Rating Agencies like Transunion (CIBIL), Experian, Equifax, and High Rank just collect the data from Banks and Financial Companies and convert the same into CIBIL Score, a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIBIL Report (also known as CIR i.e Credit Information Report). A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time. A CIR does not contain details of your savings, investments or fixed deposits. Even the Credit Rating Agencies have not control on the calculation of CIBIL or Credit Score. Keeping in view the above limitations, the CIBIL Consultants also do not claim the following:
- As CIBIL or Credit Score is an automated process based on Credit History and Repayment Behaviour of Individuals and Business Houses, CIBIL Consultants do not claim to increase or repair your CIBIL or Credit Score except in the following circumstances.
- If any Strangers Account with bad history creeps in your CIBIL 0r Credit Report and it is subsequently removed by CIBIL or Credit Rating Agency, it may marginally increase your CIBIL and Credit Score.
- If through a prolonged negotiation process with lending bankers CIBIL Consultants are able to get the words “Settled” or “Written Off” from your CIBIL Report then it may also impact your CIBIL Report favorably but nobody can claim as to increase the scores.
- Loan Accounts, with Bad Credit History, though closed and cleared cannot be removed from CIBIL Reports and it will be visible in your Credit History and the lending banker will be aware that you were a defaulter in the Past.
- Even if the Credit Scores are more than 750 but your report has one more than one delinquent loan accounts – then the decision of the Lending Banker will be final. Merely having good Credit Score does not entitle you to get a loan as it is the sole discretion of the lending Banker. Good CIBIL Score is no doubt a pre-requisite but it is not the last and final parameter to get the loan sanctioned. Banks also consider repaying capacity, net worth and so many other parameters in addition to good CIBIL Report. As such CIBIL Consultants do not claim any guarantee that after rectification of CIBIL Report, you are likely to get the loan sanctioned in your favor. However, on the basis of rectified CIBIL Report, the Banks generally consider the loan applications favorably.
- CIBIL Score can go UP and DOWN on daily basis and therefore even after rectification of existing errors the Score can go down in case of fresh defaults and go up in case of good repayment behavior.
- CIBIL Consultants can, however, guide you the relied upon and accepted methods of increasing the Credit Scores in short periods.
- As the Individuals with NO CREDIT HISTORY OR LOAN are not allotted any Score ( -1 Score is allotted to such cases) it is better to have secured Credit Cards to build the Credit Histories.
Other Terms and Conditions:
- Any wrong payment received will be returned after deduction of Handling Charge of 15% with a minimum of Rs.500-00.
- Out of Pocket Expenses will be over and above the Professional Fees displayed on the website.
- In case of Company Commercial Credit Reports, the fees for taking up the matter with concerned Banks, Credit Bureaus will differ for the case to case basis based on the labor involved. In case of Firms/Company Commercial Credit Reports, the individual CIBIL Reports of Proprietors, Partners, Directors or Guarantor might have to be investigated and the same will be chargeable as per rates prescribed for Individual CIBIL Reports.
- Payment will be refunded to the Account from which it is received. In no case, payment will be refunded to different accounts. The Sender will have to provide the Screenshot of the Account from which payment is made and it should be visible in the screenshot.
- In case of Company Credit Reports (CCR), the professional fees will be assessed after Complete Analysis and Investigation of the CCR.
- Before taking up any case of CIBIL Dispute Resolution, our experts will rely upon the Credit Reports analyzed by the experts at CIBIL Consultants only.
- CIBIL Consultants will provide 85% to 100% Cash Back Guarantee in case “Settled” or “Written Off” accounts are not updated in Credit Reports. (CIBIL Consultants, at its sole discretion, can deduct up to 15% as Processing Fees from Refunds with Minimum of Rs.500-00)
- Professional Fees are subject to change and review without any prior notice to the Public.
- No Refund will be permissible if the client cancels the order without any valid reason.
- Role of CIBIL Consultants is limited to Investigation/Analysis, Removal of Stranger’s Accounts, Updation of status from “Settled” or “Written Off” to Normal/Clear/Null in CIBIL.
- No Refund will be permissible if the Banks reject the Loan Applications as it is their Sole Discretion.
- No Refund will be permissible without Written Request supported by Valid Reasons.
- The Clients will have to deposit the Overdue Amounts of the Bank required to be deposited for removal of “Settled” or “Written Off” status within one month from the date of Demand. Fees will be charged again for getting the extension from the different Bank.
- All Notices to Credit Rating Agencies and Respective Banks will be served for and on behalf of the Clients through their duly verified email ID.
- CIBIL Consultants will provide after-sales service to its clients to keep good Credit Score.
- By entrusting the Job of either fetching or analyzing or investigating CIBIL Report and Credit Reports the clients (You) will be giving us their (Your) implied consent as under:
“You hereby give your consent to CIBIL Consultants being appointed as your authorized representative to receive your Credit Information from CIBIL, Experian, Equifax and High Rank for the purpose of Credit Score awareness (“end-use purpose”). By this consent, you are expressly agreeing to access your Credit Information Report and Credit Score, Aggregate Scores, Inferences, References and details referred as “Credit Information” from the four Credit Rating Agencies viz. CIBIL, Experian, Equifax and High Rank. You hereby also irrevocably and unconditionally consent to such Credit Information being provided by the Credit Rating Agencies to you and CIBIL Consultants by using tools provided by Credit Rating Agencies, algorithms, and devices and you hereby agree, acknowledge and accept the terms and conditions set forth herein”