HDFC Loan screwed up credit score

[nanauser]

I am a first time borrower. Late last year I decided to get a home loan from HDFC and after a lot of processing, I got the loan approved.

Before this loan, I literally didn’t have any credit score. Never had a credit card or a loan.

My first EMI was deducted on March and the loan was disbursed end of January this year.

During disbursement I was informed that I will have to pay some pre-emi which I paid right away. I was sent two links for pre-emi because I also had a loan insurance and I paid both instantly.

Fast forward to April, I checked my credit score and saw that it showed I had defaulted a payment during March.

Panicked, I didn’t know what to do. My friend suggested I raise a query with experian and I did that.

After about 20 days I got a call from someone from HDFC and they informed me that another pre-emi was left that they “forgot” to inform me about and said she will initiate the payment right away. Within 5 minutes, I got a mail for payment and I paid the amount.

Since June, my credit score doesn’t show the defaulted amount but it still shows that I missed the payment for 3 months.

Is there a way I can fix this? Because of HDFCs lack of professionalism, my credit score is affected and I don’t know what I can do now to get it fixed.

Irony is, right after I got the loan approved, I also applied for two credit cards and got both of them. However, because of HDFC now, even banks like SBI are denying my request for an entry level card like SimplyClick.

 

[saiki4116]

You can raise a report from cibil and share the CIBIL ticket with HDFC to rectify the details. Try reaching out to HDFC's grievence redressal officer. I think HDFC is a NBFC, so you can raise it in

National Housing Bank

Statutory Body under the Government of India.

nhb.org.in

HDFC can rectify from their end, but you would have to fight with them to get it changed.
Similar thing happened with SBI, I reailesed it very late, I did raise it from CIBIL, but in my case impact was low, as it been already 2 years by the time I got to know, they consider last 3 years of repayment.

 

[prc1990]

I am a first time borrower. Late last year I decided to get a home loan from HDFC and after a lot of processing, I got the loan approved.

Before this loan, I literally didn’t have any credit score. Never had a credit card or a loan.

My first EMI was deducted on March and the loan was disbursed end of January this year.

During disbursement I was informed that I will have to pay some pre-emi which I paid right away. I was sent two links for pre-emi because I also had a loan insurance and I paid both instantly.

Fast forward to April, I checked my credit score and saw that it showed I had defaulted a payment during March.

Panicked, I didn’t know what to do. My friend suggested I raise a query with experian and I did that.

After about 20 days I got a call from someone from HDFC and they informed me that another pre-emi was left that they “forgot” to inform me about and said she will initiate the payment right away. Within 5 minutes, I got a mail for payment and I paid the amount.

Since June, my credit score doesn’t show the defaulted amount but it still shows that I missed the payment for 3 months.

Is there a way I can fix this? Because of HDFCs lack of professionalism, my credit score is affected and I don’t know what I can do now to get it fixed.

Irony is, right after I got the loan approved, I also applied for two credit cards and got both of them. However, because of HDFC now, even banks like SBI are denying my request for an entry level card like SimplyClick.

Drop a note to HDFC grievance team and follow the escalation matrix until it gets resolved.

If you don't get any resolution from the bank within 30 days, you can open up a complaint with RBI ombudsman.

I faced similar issue in the recent past and got it corrected after a complaint was lodged with RBI. You can read it here Thread 'Wrong payment history reported by bank' https://www.technofino.in/community/threads/wrong-payment-history-reported-by-bank.581/.