A Loan Fraud Is Doing the Round in India

A loan fraud is doing the rounds in india, and it's wreaking havoc on credit scores. It is all the markings of identity theft. When you default on payments, your credit score goes for a toss. Banks may refuse to dole out new loans. You may be asked to pay a higher interest rate. And you may even have trouble getting your hands on a credit card for what? For something you didn't even do.