OTS

How Does accepting OTS effect on Credit History ?

One Time Settlement Scheme , OTS effect on Credit History of an Individual future credit history : Just as all information about credit availed (amount availed, payments, defaults etc) is reported to Credit Information Companies (CICs), the fact that the borrower has closed a loan account after accepting an OTS is also reported to CICs. The bank is required to ...

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Impact of One Time Settlement Scheme (OTS) on CIBIL

One Time Settlement Scheme (OTS) and  CIBIL Score  – What would be the impact of One Time Settlement Scheme (OTS) on borrowers credit history ? Do they may apply for the fresh loan ? Can fresh loan be provided to such person who already had accepted the OTS proposal on default of loan ? As Per BCSBI Ruling : Just as ...

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