Due to some financial constraints I was unable to make Payments for my EMI. Will this be recorded in my credit rating and will hamper my chances of availing loan in the future? What can I do to avoid this kind of situation? Can I talk to the bank and have that bad rating informed if its tracked?
I have a savings account with a foreign bank in Delhi. Recently , despite sufficient funds in my account, this bank dishonoured a cheque that I had drawn in favour of another bank towards payment of EMI. I have been asking them for a reason by writing to them online but they are not replying. What action can I take against my bank for their negligence resulting in possible impact on my credit rating/