Need A Financial Product Forums Loans Will a default on car loan affect home loan eligibility

This topic contains 1 reply, has 2 voices, and was last updated by  Paresh Joshi 3 years ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #48398

    Paresh Joshi
    Member

    I had taken car loan from ICICI Bank. Meanwhile my company transferred me to USA. I couldn’t get time to settle things here. I am back after 3 years. I want to apply for home loan. After seeing CIBIL report, I realized that I forgot to pay Rs. 15,000 on car loan which has now grown to Rs. 54,000. Should I settle my account with ICICI Bank in between to avoid any negative impact?

    #48399

    Settling your loan will still put a negative mark in your credit history. To avoid negative impact in your home loan, repay the amount in full.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...

GET IN TOUCH WITH US

Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email : connect@simplypaisa.com

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.