How to Improve CIBIL Rating

Dear All, Recently I was trying to get some business Loan from HDFC bank. I had submitted all documents as requested by them. After due verification they informed me that my loan application is rejected. And the reason was "Bad CIBIL rating".
Almost six to seven years back I had taken credit card from CITI bank. After using the same properly for some time my repayment was not prompt and the amount started accumulating. At one stage the amount became unimaginable and out my ability to repay. At this stage i hired a lawyer, and he after seeing all my transactions from day 1 till the final day has made some calculations and said that i need not pay any more amount to the bank as they have already overcharged against RBI guidelines. The matter was settled at that time and after that No one from CITI bank asked for any payment from me.

Now my cibil says Account closed with outstandind Rs. 1,39,000.00. For this reason HDFC bank has now rejected my loan application.

Now i would like to know if their is any way I can improve the cibil rating so that i can take loans in future. more  

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Get in touch with me at 9717493309. I shall explain how to get out of this. more  
Constitution provides for equality and so whatever the bank do must have to be same for everyone irrespective of their status. If not the system needs to be put on right path. more  
Mr.Uday,yes we are all correct,we need system change.The only thing that can change is introducing judicial reforms,scrutiny. Making people oriented Judicial systems. Today the world needs a system change in growing crops.Standing water is producing nitrogen and carbon,we did same for 100 years. Climate smart agriculture. So are systems changes in finances,currency,banking,judicial systems,social leaders all . We thought urbanization is way forward for prosperity employment and industrialization. We need now safe tram like transport. We need water treatment and reuse systems. Things needs change,who ever are against will loose their identity on their own. more  
It is well established that the Banks are only for the Reach People to give them Loans Without any verifications and having any assets BUT to create the Liabilities by way of defaulters and writ off the Loans of Several Hundred and Thousand Crorers of Rupees. But in case of common man, as stated earlier 400% assurance is not sufficient, over and above CIBIL, CRISIL and other Private credit rating Organisations certifications - which does not have any "Locus Standi" Prevails. Same is the Case of Other Authorities - as well, for the only reason that common man is easy Opress and depress for wasted interest. more  
It is party workers in job,holding workers meetings who are important vote catchers. The situation from top to bottom,and who will bell the cat. But there will be more wolves to catch the rats,and drive the cats. Fall in line and accept a new system other wise monopoly and multinationals will take over. Jobs,profits and many will be missed. After all British Island nations cannot support for longer time. more  
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