Credit Fraud vs Identity Theft: What’s the Difference and Why It Matters
As per the Union Budget announcement, more than 50 crore Indians now have access to the internet, which has caused about a 144% jump in mobile data usage in the year 2018 compared to the year before
What can you do to improve your CIBIL score after credit card settlements?
Credit card and loan approvals are largely influenced by an individual’s CIBIL score, as it serves as proof of their creditworthiness. The three-digit credit card CIBIL number falls between 300 and 900. Credit profiles that are closer to 900 are more reliable. When an individual seeks loan assistance or credit card approval from any bank, […]
Navigating the Credit Rating Landscape: Expert Tips and Insights
Navigating the Credit Rating Landscape: Expert Tips and Insights In today’s financial world, understanding your credit rating is crucial. Whether you’re applying for a loan, seeking a new credit card, or even renting an apartment, your credit score plays a pivotal role in determining your financial health. Navigating this landscape effectively can save you money, […]
Navigating the Storm: Individual Credit Repair Amidst 2024’s Challenges
Navigating the Storm: Individual Credit Repair Amidst 2024’s Challenges In the tumultuous landscape of 2024, marked by economic uncertainty and rapid changes, the road to financial resilience seems fraught with obstacles. However, amidst these challenges lies the opportunity for individuals to take control of their financial destinies, particularly through the repair and maintenance of their […]
Decoding your Credit Score! Can It Be A Benefit Or A Bane?
Almost all cardholders find debt a nightmare, one that affects their credit score as well. Resist the temptation to use your entire credit card limit, no matter how tempting it may seem. The way you manage your credit card debt can have both positive and negative effects on your credit score. Credit card debt can […]
How do Loan Waive-offs and Loan Write-Offs Differ?
It is common to use the terms ‘loan write-off’ and ‘loan waiver-off’ interchangeably. They both deal with bad loans, but their basic concepts are different, despite sounding similar. Waiving a loan is different from writing it off. Both terms apply to bad loans. What is their purpose? Non-performing assets (NPAs) are borrowers who cannot repay […]
DRT Full Form: Understanding the Role of Debt Recovery Tribunals in Debt Recovery
In the past, banks and financial institutions had difficulties recovering loans they had advanced to individuals or businesses. In India, non-performing assets (NPAs) and bad loans are a constant source of trouble for banks. Prior to 1993, such cases were often listed in civil courts, where they would drag on for years. As a result, […]
An overview of the CIBIL score for Axis Bank’s Personal Loan
Axis Bank is India’s third largest private sector bank, specializing in a wide range of innovative financial services tailored to large companies and small businesses, agriculture, and retail. It was founded in 1994 and currently has 3,779 domestic branches across 2,211 locations in India, including extension counters. A global presence is not limited to India, […]
A Modernization of Debt Collection for the Digital Age – Final Rule of the CFPB
Every day, people send over 105 billion emails and 23 billion texts. Despite this, debt collection laws have remained silent on the issue of electronic communications. CFPB released updates to the Fair Debt Collection Practices Act (FDCPA) for the first time since the law was passed over 40 years ago. As part of the 653-page […]
The most common charges and fees associated with personal loans
Sunshine has a shadow too. Most people and banks fail to mention the charges and fees involved in getting a personal loan. This article addresses all such fees and charges, in addition to the interest you’re likely to pay. A personal loan is one of the most effective financial tools an individual can use to […]