Need A Financial Product Forums Loans What does ?no suit filed’ in CIBIL report stands for

This topic contains 1 reply, has 2 voices, and was last updated by  Jeevanlal 2 years ago.

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  • #48388

    Jeevanlal
    Member

    I want to apply for a car loan. I checked my CIBIL report, score is 736 and my old credit card from Standard Chartered Bank is showing balance as Rs. 52,000 and in front of status it is written ?no suit filed’. Do I need to clear this issue before applying for loan? Should I pay in full or settle my credit card dues with Standard Chartered?

    #48389

    Jigar Mehta
    Member

    Repay your dues in full. If you choose to settle then it will be marked in your CIBIL report as your inability to pay in full. This will negatively impact your loan eligibility.

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