HDFC Settlement - CIBIL Updation PWOS

[rajamsc2003]

Dear Team,

I had HDFC Credit card during year 2006 and since my friend cheated me. I am in bad position to close the card, after some struggle we have settled the card in police station. They told that they will update CIBIL as closed, but i tried for personal loan last week and come to know that they had updated as PWOS. I am having the settlement documents and zeroed statement of HDFC Credit cards statement. Please advice me to proceed further.

Thanks in Advance!

[cardbhai]

Since you say that you have Settlement Documents, you can e-mail the same to me at feedback At CardBhai.com to have a look and advise.

However, if you have actually settled for an amount lesser than what you owed, then the Bank is "probably" right in updating the status.

WRITTEN-OFF AND SETTLED STATUS - There are various options in it and Post -[WO] Settled implies that you have paid the lender amount less than what you actually owed.

[rajamsc2003]

Dear CardBhai,

I have already sent the documents to your Mail. Today i received call from HDFC, they told me that they have updated correctly and also asking me to pay 98400.00 to update the status as Closed.

At the time of settlement the Collection executives told me that i will receive the letter like closed, But now like this.

Please advice me how to proceed further.

[rajamsc2003]

Dear CardBhai,

Please advice on this. I have wrote to HDFC Banking Ombudsman

We note from your e-mail that you seek certain clarification regarding the status of your card account as updated in the CIBIL database.
 
Upon receipt of your e-mail, we have reviewed your card account and wish to inform that an amicable settlement was offered on your credit card for an amount of Rs. 45,000.00 payable in 2 installments during December 2011. In view of the above, we confirm that there is no outstanding payable towards the offered settlement.
 
In the event you seek any further clarification regarding your card account, please feel free to write to us at: PriorityRedressalRPM.CreditCards@hdfcbank.com or contact us at : 044-23748701/23748702
 
Please help me to clear this PWOS.

Thanks in advance!

[cardbhai]

I had told you in my Reply on "July 23, 2014" that if you pay anything less than what is owed to the bank, the Status Column will indicate something like Settled, Written-Off, etc

1. If you want to re-open the case, you can do so. For example if you owed Rs 65,000 to HDFC Bank and assume you have settled in 2010 for Rs 40,000. Now if you want CLEAN CIBIL CREDIT HISTORY, bank is willing to do so. You will have to pay just Rs 25,000 + Interest on the same for the last 5 Years. Once that is paid, they will update the CIBIL Status i.e it will be left blank indicating Account Closed with Full Payment.

2. How do you re-establish the History ?
Get a smaller Loan - Bike or Consumer Durable and Make Timely Payments.
Get another credit card and spend few hundreds every month and pay off in full.

3. CIBIL Score will increase by higher proportion with payment track record on Secured Loans (Home, Car, etc..)