When Can Get Write-off a Loan ?

The Finance Minister of India, Finance Minister Arun Jaitley has recently announced that, all loans to the corporate sector, including non-financial sector will be allowed to be written-off with a simple filing of declaration with the government and no other restrictions.
Loans which were restructured under S4A ,RPS etc. would be written off without any limitation as this will go against the spirit of Debt Relief Ordinance.

Banks write off loans

banks write off loans at half the value, with little or no repercussions. Instead of pressuring banks to write off all debts, the government should support farmers and small businesses by imposing much higher penalties on bad loans.

How to write off loans and advances

how to write off loans and advances. To eliminate all these loans, the investor needs to buy securities such as bonds, sovereign debt, and high-yield corporate bonds. By doing so, he will still be able to earn good rates of return.

Rbi circular on write-off loans

rbi circular on write-off loans, defaults by one-time settlements, initial implementation to be first in Maharashtra, UP and Punjab: RBI In its latest communication, RBI has said the initial implementation of one-time settlement

Difference between writeoff

difference between write-off amounts imposed by California and those that were finalized in House Bill 2708 (“BizCon”) Additional information Find out more by contacting: Thomas Naughton, Long Beach Deputy Director of Transportation and Public Works – (562) 570-2581 Stefanie Gregorek, Long Beach Deputy Director of Public Works – (562) 570-2587 (Press release, May 3, 2018) From BizCon press release, April 12: “

Banks write off rs

banks write off rs 62,000 crore loans in March: Official data The Union Government on Friday said over Rs 62,000 crore worth of bad loans have been written off by Indian banks in the first quarter of 2017-18, a surge

Priteoff vs loan waiveoff

write-off vs loan waive-off import vs export credit score vs credit history have it right vs write off it writeoff vs loan waive-off Unpopular but true, we are in a cost control mode. We’re cutting down on our expenses.

Public sector banks write

public sector banks write-off loans to defaulters of up to Rs 5 crore (PTI) Banks have written off loans to individuals and firms worth Rs 26,334 crore between 2014-15 and 2017-18. Of this, the government and the Reserve

double the govts capital spend

reduce unproductive labour
by removing the dependence on capital-intensive manufacturing for the manufacture of food
The environmentalists, neoliberal democrats, city planners and so on,

What happens when loan is written off?

What happens when loan is written off? Since these loan are taken from small business borrowers, these small businesses are forced to shut down. Due to the fact that these small business don’t have enough money to pay their debts, their credit score and overall financial standing gets negatively impacted. A significant number of loan have a year or more remaining to complete. If a small business owner repays their loans on time,

When can you write-off a loan?

When can you write-off a loan? The UK allows borrowers to write off a debt after paying it off for five years, although they must start paying it back within the period. In the first year, the borrower is able to write off 200RS,

Loan waiveoff what is

loan waive-off what is the re-statement of the federal bank? the here of bankruptcy or the revival of other. This is a crisis of a sort, you cannot control it from one place. Banks don’t have the means to fore

3 Business Debt Paying Tips

व्यवसाय के मालिक दो साल से अधिक समय से लॉकडाउन प्रोटोकॉल का पालन कर रहे हैं। 

भले ही पिछले कुछ महीनों में अर्थव्यवस्था में सुधार के साथ कुछ राहत मिली हो,

 लेकिन यह अभी भी महामारी से हुए नुकसान को कम करने के लिए पर्याप्त नहीं है। 

छोटे व्यवसाय 2.9 ट्रिलियन भारतीय अर्थव्यवस्था में एक महत्वपूर्ण हिस्सेदारी का योगदान करते हैं,

 और रिपोर्टों के अनुसार कि महामारी के दौरान जमा हुए ऋणों के कारण 35% छोटे व्यवसाय बंद हो सकते हैं,

 भविष्य गंभीर दिखता है। लेकिन इस विकट स्थिति में कर्ज चुकाने और अच्छे वित्तीय स्वास्थ्य

 को पुनः प्राप्त करने के लिए एक व्यवसाय क्या कर सकता है? यह लेख ब्याज पर पैसे की बचत करते 

हुए व्यापार ऋण को तेजी से खत्म करने के कुछ सिद्ध सुझावों पर गौर करेगा

1.LOAN का मूल्यांकन करें

ऋण का मूल्यांकन करेंएक व्यवसाय के स्वामी को सबसे पहले जो करना चाहिए 

वह यह है कि वे ऋण अनुपात की गणना करके वित्तीय परेशानी को समझते हैं। 

यदि अनुपात एक से कम है, तो इसका मतलब है कि व्यवसाय में वित्तीय स्थिरता है,

 जबकि, यदि अनुपात एक से अधिक है, तो इसका मतलब है कि व्यवसाय में संपत्ति

 की तुलना में अधिक देनदारियां हैं। एक बार जब कर्ज का आकलन हो जाता है,

 तो उसकी देखभाल करना आसान हो जाता है। उच्च ब्याज दरों वाले ऋणों को पहले निपटाया जाना चाहिए।

 क्रेडिटबी जैसी प्रमुख ऑनलाइन ऋण कंपनी से संपर्क करके व्यवसाय के मालिक उच्च-ब्याज दरों वाले 

ऋणों का भुगतान करने के लिए ऋण समेकन पर विचार कर सकते हैं।

2.VALUATIONS OF Debt

कर्ज का आकलन करने के बाद अगला कदम व्यवहार्य बजट बनाना और उस पर टिके रहना होना चाहिए।

 कई बजट विधियां हैं जैसे वृद्धिशील बजट और गतिविधि-आधारित बजट जो छोटे व्यवसायों के लिए उपयुक्त हैं।

 बजट बनाना व्यर्थता को सीमित करता है और यह सुनिश्चित करता है कि प्रत्येक वर्ष के अंत में पुस्तकें संतुलित रहें।

 बजट से चिपके रहने से अधिशेष धन भी हो सकता है जिसका उपयोग व्यवसाय के विस्तार या

 अन्य ऋणों का भुगतान करने के लिए किया जा सकता है।

3. उपलब्ध संसाधनों का उपयोग करेंकई नए सॉफ्टवेयर एप्लिकेशन हैं 

जो व्यापार मालिकों को अपने खर्चों में कटौती करने में मदद करते हैं। 

छोटे व्यवसाय के मालिक मुफ्त सॉफ्टवेयर अनुप्रयोगों का उपयोग करके लेखांकन,

 ग्राहक सहायता और विपणन जैसे कार्यों पर पैसे बचा सकते हैं।

 व्यवसाय के मालिक आसान ऑनलाइन ऋण प्राप्त करने के लिए ऑनलाइन ऋण

 कंपनियों से संपर्क कर सकते हैं, जिससे उन्हें सुविधाजनक ईएमआई विकल्पों का उपयोग

 करके वापस भुगतान करने की अनुमति मिलती है।

What are the 3 biggest strategies for paying down debt?

Take advantage of the free cash flow of the business.

Hold debt to current market value and assets, even if prices go down

Look for investment opportunities (real estate, selling businesses) and spend that cash to pay down debt.

How do you come up with investment opportunities?

Look at companies in your sector that have solid debt levels and/or significant free cash flow and use your cash

How do I get out of business debt fast?

f you can, do it now. Going forward you can rebuild your credit with a fresh start, get out of the business debt you’re in and start over.

What is the best debt repayment strategy?

The optimal debt repayment strategy is one which can generate the most income from your funds and ensures you keep your debts the lowest over time.

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your business debt

your business debt at the beginning of the year and all month long you’ve been sending out small amounts of money to the rest of your business partners – you are leaving them with a nice hefty balance.

tips for paying

How to tell if your creditThere are dozens of credit card tricks you 

can use to improve your credit score, but there are some simple steps you

 can take to pay off your debt and start earning cash back on

FAULTY CREDIT रिपोर्ट/स्कोर को कैसे ठीक करें

क्रेडिट रिपोर्ट आपके क्रेडिट इतिहास का सारांश है और क्रेडिट इंफॉर्मेशन ब्यूरो ऑफ इंडिया प्राइवेट लिमिटेड (CIBIL) द्वारा विभिन्न उधारदाताओं से प्राप्त आपकी व्यक्तिगत और क्रेडिट से संबंधित जानकारी को संकलित करके बनाई गई है। ऋणदाता आपके ऋण आवेदन को संसाधित करने से पहले हमेशा आपकी CREDIT रिपोर्ट की जांच करता है। यदि रिपोर्ट में कोई FOLT है, तो आपके आवेदन पर तब तक कार्रवाई नहीं की जाएगी जब तक कि उसका समाधान नहीं हो जाता।

इससे पहले कि हम आपको बताएं कि आप अपनी क्रेडिट रिपोर्ट को कैसे ठीक करवा सकते हैं, आपको सबसे पहले अपनी क्रेडिट कार्ड रिपोर्ट में संभावित MISTAKE को समझना होगा।

आपकी क्रेडिट रिपोर्ट में हो सकने वाली ERRORS

व्यक्तिगत विवरण

1. इस बात की संभावना है कि आपकी रिपोर्ट में पहचान संबंधी MISTAKE हैं अर्थात।

गलत नाम

आपके नाम की गलत वर्तनी

गलत संपर्क यानी फोन नंबर और पता

•  उल्लिखित पैन नंबर आपका नहीं है, या कोई अन्य व्यक्तिगत या रोजगार या खाते से संबंधित जानकारी गलत है

गलत खाता विवरण

1. कभी-कभी आपकी क्रेडिट रिपोर्ट में एक खुले खाते को बंद और इसके विपरीत रिपोर्ट किया जाता है

2. गलत बैलेंस और गलत क्रेडिट लिमिट

3.खाते खोलने और बंद करने की गलत तिथियां

4. समय पर किए गए भुगतान को देर से या नहीं किए जाने की सूचना दी जाती है

5.आपके नाम से एक ऋण है जिसका आपने कभी लाभ नहीं उठाया

गलत LOAN PENDING

1.आपकी क्रेडिट रिपोर्ट दोषपूर्ण बकाया राशि दिखा सकती है

2. चूंकि क्रेडिट ब्यूरो उधारदाताओं द्वारा उसे प्रदान की गई जानकारी का मिलान करता है, ऐसी संभावना है कि आपके ऋणदाता ने क्रेडिट ब्यूरो को आपके द्वारा किए गए पुनर्भुगतान के बारे में सूचित नहीं किया है, इसलिए यह गलत जानकारी दिखा रहा है।

How to Improve Credit Score in India

8 tips will get you better credit score

Your credit score is one of the most important steps in your financial life. It tells creditors at a glance how much debt you are incurring debt. If your score is better, you will find it easier to get approved for new loans or new credit lines. High credit scores can also open the door to low interest rates on borrowing, How to Improve Credit Score in India

If you would like to improve your credit score, there are a few simple things you can do. It takes a little effort and, of course, some time. Here is a step-by-step guide to get the best credit score.

Why a Good Debt Cause Is Important?

A good or bad credit loan will save many people hundreds of thousands of rupees throughout their lives. The person with the best credit gets the best rates on loans, car loans, and everything else that involves financing. People with better credit ratings are considered low-risk borrowers, with many banks competing for their business and offering better rates, fees, and profits. In contrast, those with poor credit ratings are considered high-risk borrowers, with fewer lenders competing with them and many businesses escape with high annual crime rates (APRs) as a result. Additionally, bad credit can affect your ability to find rental housing, rent a car, and even get life insurance because your credit score affects your insurance reports.

Make sure you pay at least the minimum balance you must pay on time.
Lower your credit card balance to keep your credit usage low.
Do not close old credit card accounts or apply many new applications, How to Improve Credit Score in India

1.Recheck Your Cibil SCORE

To improve your credit, it helps to know what works for you (or against you). This is where checking your credit history comes into play.

Download a copy of your credit report from each of the three major national credit bureaus: Equifax, Experian, and TransUnion. You can do this for free once a year through the official website AnnualCreditReport.com. Then, review each report to see if it helps or not.

Factors that contribute to high credit outcomes include timely payment history, low balances on your credit card, a combination of different credit cards and loan accounts, older credit accounts, and smaller new credit questions. Late or missed payments, high credit card balances, collections, and decisions are major reductions in credit score.

2.How to you fast improve your credit score ?

Check your credit score to see why it is low.
Lower your revolving debt as much as possible to reduce your debt use percentage.
Remove any incorrect items (especially late payments).
Added as an authorized user to an old account with a complete payment history, with a low usable value. Ideally, this is done by a friend or relative, and they do not even have to give you a card. You can also pay for some debt repayment services that will sell an agreement between you and a stranger to do this.

3.Handle on Bill Payments

More than 90% of top lenders use FICO credit points, and are determined by five different factors:

Payment history (35%)
Credit Consumption (30%)
Credit account age (15%)
Combined credit (10%)
New Credit Inquiries (10%)

Another option is to charge all (or as many as possible) of your monthly payments on a credit card. This strategy assumes that you will pay the full balance each month to avoid interest rates. Going this route can make debt payments easier and improve your score if it results in a timely payment history.

4.Indicate the use of 30% or less credit

Credit use refers to the portion of your credit limit that you use at any time. After payment history, it is the second most important factor in calculating FICO credit points.

An easy way to keep your credit usage guaranteed is to pay your credit card balances in full each month. If you can’t always do that, then a good rule of thumb is to keep your total debt balance at 30% or below your credit limit. From there, you can work on reducing that to 10% or less, which is considered good for improving your credit score.

5.Limits Your New Loan Requests — and Hard Questions About Them

There are two types of questions about your credit history, often called difficult and soft questions. A common soft question may include checking your credit, giving your potential employer permission to check your credit, checks by financial institutions that use them. you are already in business, with credit card companies checking your file to see if they want to send you pre-authorized offers. Soft questions will not affect your credit score.

6.Benefit Fully From Small Credit File

Having a small credit file means you do not have enough credit history in your report to make credit points. An estimated 62 million Americans have this problem.4 Fortunately, there are ways to fatten up a small debt file and get good credit score.

Another Experian Boost. This new system collects unusual financial data from your credit report, such as your bank history and service payments, and includes that in calculating your Experian FICO credit score. It is free to use and designed for people with limited or no credit at all who have a good track record of paying off some of their bills on time.

A new entry into this field , a mobile app that reports rent payments to the credit bureaus free of charge.

7.Keep Old Accounts Open and Deal with Criminals

The credit age section of your credit bureau determines how long you have had your credit accounts. If you are older by your middle years of credit, you seem to be more attractive to lenders.

If you have old credit accounts that you are not using, do not close them. While the credit history of those accounts will remain in your credit report, closing credit cards while having balance on other cards may reduce your available credit and increase your credit usage rate. That may add a few points to your outcome.

8.Consider Reduse Your Debts

If you have outstanding debts, it may be beneficial for you to take out a mortgage loan from a bank or union and pay it off. Then you will have one payment to deal with, and, if you can get a lower interest rate on the loan, you will be able to repay your debt faster. That can improve your credit rating, too, your credit score.

What is Credit Score reports

CIBIL scores can range from anywhere between 300 and 900, 900 means higher credit eligibility. 750 CIBIL points or more in your credit report is correct, What is Credit Score reports

What’s Credit Scores ?

Debt points are a measure of a person’s ability to repay a loan. It is a numerical representation of their credit eligibility. Credit score is a 3-character number that falls in the range of 300-900, 900 to the highest.

Credit scores are calculated by credit bureaus in the country after considering a few factors such as the length of your credit history, payment records, credit inquiries, among others.

If you apply for a credit card or loan from an NBFC bank, having a high credit may give you the opportunity to receive additional benefits such as higher loan rates, lower interest rates and your choice of stay-at-home loan repayments.

Get Your Free Credit Scores Step by Step

Visit the cibil website
Enter your name and surname.
Enter your mobile number and email ID.
OTP will be sent to your mobile number for verification.
The next step will be to verify your age.
Your credit score and report will be displayed on screen.

Credit Score Range In India

cibil reports in India ranges from 300-900. You should always take steps to bring your credit score to 900. High credit scores increase your chances of getting a good loan deal once

Whats Reasons I check my Credit ?

It is very important that you pay close attention to your Credit reports. It is the best way to measure your chances of getting a credit line. Another reason why you should track your range is to know if it is immersed, or if credit agencies made a mistake when calculating your score. This will help you to make changes in time.

What's CIBIL SCORE Dispute:

CIBIL Report is a three-letter number assigned to the credit bureau. The number determines your financial suitability. This is based on your credit history and is a factor that banks and lenders consider before giving you a loan. TransUnion CIBIL will collect data from various lenders and determine the accuracy of the data before it is printed on credit reports.

If there are variations in the CIBIL report or CIBIL points, such as bank details, contact details, your name, outstanding balance, date of birth, or the date of the loan account, you can always correct the same. The process of identifying and correcting errors in your credit report is called the CIBIL dispute, What’s CIBIL SCORE Dispute

CIBIL disputes can be of two types

Individual CIBIL disputes and Company CIBIL disputes.
You can always raise disputes in your CIBIL report or in your CIBIL points by completing the CIBIL Dispute Form through the CIBIL website.
Any CIBIL trade disputes can be submitted via the CIBIL Online Dispute Resolution Form which you can find on the CIBIL website.
It will take about 30 days after the CIBIL dispute is resolved.
The credit report of any person or company plays a major role in determining the creditworthiness and creditworthiness process. However, in the event of a conflict in your credit report, then the chances of getting a loan can be severely compromised. CIBIL provides custom channels and procedures for resolving disputes related to your CIBIL report. The process is slightly different depending on the business that raises the dispute application by the company or individual.

Get a Free Credit report

Types of Conflicts That Could Arise with CIBIL
Different types of disputes may arise in a personal or corporate credit report. Knowing the stage of the dispute makes the resolution process easier. Here are some of the most common types of disputes customers may have regarding their CIBIL report.

Company disputes

Company or Account Details
Various company information such as name, address etc. can be challenged. Company PAN and account details such as type of credit, penalty amount are specific examples of account information.

Ownership
Copyright disputes may arise if the account of the specified company is not in your name.

Duplicate account

In your credit report, if the same account is repeated over and over again you may want to raise a dispute and resolve it.

Potentially incorrect fields
Here are the company details that can be disputed

Company Name

Legal Constitution

City

The world

PIN Code

Company Registered Address

Company Branch Address

Phone Numbers

PAN (Company)

Promoter / Director / Owner / Partner Name

Relationships

Individual arguments
personal details
This includes customer name, address details etc. For example, Raj Kumaar may not be as well spelled as Raj Kumar and may need to be corrected.

Duplicate accounts
Your account may be doubled so there may be a recurring dispute that can be resolved by raising a dispute with CIBIL.Com