Hi,
I had a HSBC credit card in 2006 with a debt of Rs 30,000 and I left to USA and forgot about this card. I returned to india in 2008 and came to know that my name is on CIBIL after few loan rejections.
Recently I have settled for Rs 60,000 with JM financial institution who took over HSBC .It’s been two months since I paid the amount thru a cheque and still waiting for the NOC/settlement letter. Hence I sent out and e-mail to the JM financial team. Few days later, I have got a call from one of their associates who deals with CIBIL updates. He told me that I have settled the amount for 60K and still I owe 1,80,000 rupees more. Hence he said the abnk will update the CIBIL as “Settled” and not as “Closed”, and Settle status will not help me at all to get any features loans from the banks. He is suggesting me to pay the full dues 1,80,000 so that he will request CIBIL to update my record as Closed. And he also said bank still continues to add interest on the rest of the amount and hence I better pay now itself rather paying a higher amount after few years/moths.
-Even after I settled and made a payment 60,000 what is the point of putting my name in defaulter’s list on CIBIL? Shouldn’t they close my records
- As I had already made a payment of Rs 60,000 as a settlement, is that not enough for the bank to remove my name from CIBIL?
- Please suggest me. To remove my name from CIBIL What should I do now in this given situation? Should I pay the rest of the amount ? - Please suggest me.
Thanks,
Kiran
