The cheque for the monthly rent,deposited with my landlords bank,bounced due to insufficient funds in the account. Will this affect my credit score?
A credit report does not include information on bounced rent cheques yet but this may very well be the case in the future,where every payment will count. However,this will still be part of your bank records. Also,do bear in mind that a bounced cheque is illegal and you can be pulled to court by your landlord. Try and make amends as soon as possible. Cancel the cheque to prevent it from being submitted again by your landlord. Notify the landlord of the mistake and write out a fresh cheque after ensuring that you have enough funds in your account.
What is a top-up loan? When and how can I avail it?
A top-up loan allows you to avail money on top of your home loan. It is often offered only after a few years into the home loan,as this gives a fair idea about your repayment track record,which means no defaults down the line. The logic behind a top up loan is the fact that you have already started repaying your loan,hence your outstanding loan amount with the bank has begun decreasing with each payment. On the other hand,the market value of the property could also be on the rise. A top up just enables you to utilise these aspects towards obtaining a loan that you may urgently need and can use for any purpose.
The LCD display of my insured laptop has broken and I need to claim insurance. What is the process?
Call up your insurance company and refer your insurance policy number. One of the first things they will ask you to do is approach an approved computer service center and get a diagnosis of the problem with the laptop and a rough cost estimate for the repair solution. In your case,let’s assume the laptop monitor needs to be replaced. Then you need to get a rough estimate of how much the monitor will cost and also get a report on why the problem occurred. You need to submit these to the insurance company along with photographs of the laptop,the serial no. and other details that will be required to reimburse your claim. After you go through with the repair costs,you need to submit the bill to your insurance company after retaining copies of it with you.
The expert is CEO,Bank Bazaar
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