I seek help from someone knowing complete details about credit card. If a person is defaulter from a particular credit card, his name go to the data bank of defaulter due to which he / she can not take any personal loan / credit card / car loan / housing loan as while cross checking the credentials of that particular person the banks come to know about the default thereby they regret that they can not offer him / her the loan. Now if that person repay the default amount or do the settlement, still his / her name reflect in that data bank for years. What is the reason for it and what is the process of deleting his/her name from that data bank of all banks. Is there any time limit that for so many years his / her name will be there in that data bank.
RE:Seek Help
by Mayank Sharma on Jul 17, 2007 05:03 PM Permalink
In all such cases as a customer you can't do much because bank will never accept that they have updated such details of yours in neg database.
Name will remain in database for ever but it's effects will get diluted with time, say after 3-4 yrs.
Best way to come out of it faster is that you should maintain all existing and running relationships with banks clean and clear.
