In this video, we will answer viewer questions on home loan guarantors and credit history
Edited highlights
0:14 In this video, we will answer viewer questions on home loan guarantors and credit history
1:18 Saurabh Singh says he had a credit card payment due for the last three years and his CIBIL score has gone down to 560.
1:26 He wants to improve his CIBIL score for the future
1:30 He wants to know that if he pays his dues will it go to green and how much time will it take to improve the credit score
1:39 We suggest that you take help from professional credit counsellors who can guide you on problems like these
2:11 First get your CIBIL report out and check it
2:42 Start paying your loans on time
2:44 If organisations don't want to give you loans because of your score, take a loan against an asset to improve the credit history
2:48 So, it could be taking a loan against FD and make repayments on time
3:06 Over a period of time, these timely payments along with timely repayment of dues will improve the credit history
3:19 If you do this, over 6-8 months, you should see your credit score improving
3:49 Kamlesh Pandey has a question about home loan guarantors
3:55 He asks how a mortgage loan guarantor obtain a no dues certificate from the bank if the loan is paid by the defaulter's wife
4:03 He also wants to know what other documents should be obtained from the bank
4:11 Our expert says that the guarantor can give a written request to the bank to provide no dues certificate for the loan
4:28 He or she may obtain a statement of the loan for his or her record
4:41 Guarantor doesn't need anything else but if the guarantor has pledged or mortgaged anything for that loan, he should obtain the papers from the bank
