In the year 2006, when I was in india, I defualted for two personal loans and one credit card for the total of 1.5 lacs. Now i'm IN USA and i would like to apply for a housing loand in india. What would happen now? will the loan be rejected? I dont know what to do? Can some one please help.
Thank you in advance.
All banks and institutions have to provide data to CIBIL. CIBIL (Credit Information Bureau of India Ltd) will generate a credit rating for you. If you default that doesnt mean you will never get another loan. But it could mean that you may have to pay a vety high interest rate
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Now U r in US and interested to buy a house in India,Congratulation, u r now earning well, U may settle yr account wid them,they will waive off interest part n u can pay them in easy instalments n make yr life peacefull, U will get housing loan also, if not from the same bank, sum other.