Help needed to settlement with Citibank and HSBC

[Navin]

Help needed to settlement with Citibank and HSBC

Dear Sir/Madam,
I have applied for home loan from HDFC bank and Bank run my CIBIL report and per CIBIL I have 2 overdoes from 2 banks. Any help will be really appreciated.
Report from HDFC Bank

Control No. of your CIBIL is:541701168.
 
1. A/C to your CIBIL report your two credit card have Overdue Amount.
 One sanction on 17/06/2006-Overdue Amount Rs.45840 from HSBC
 Another one which was issued on 14/02/2005 has overdue Amount Rs.342495.from CITI bank

 

CITI Bank:-
I have withdrawn Rs 25000/- overdraft from my Citibank Suvida account in July 2005 and I had some dispute regarding the charges the applied in my account, we had long email communication and every time a new representative responded my query and ask the same question again and reply the standard answer we will reply you bank in 2-3 business day but he/she never reply.
And finally I lost the track due to job (move so many places) also bank never contacted me for this any time. The last email statement I receive from bank is “Statement Period - Jul 1, 2005 to Sep 30, 2005” No paper statement at my home also.
Now they made it Rs. 342495/- and reported to CIBIL

HSBC:-
They posted Rs. 8,947.10/- outstanding in my credit card that I never use I ask them to send me the detail but they never sent. And with HSBC also same story contact customer care every time standard answer will revert back you in 2-3 business day and that never come.
And now they made it Rs. 45840/- and reported to CIBIL.

Can someone please help me to resolve this issue. Any help will be really appreciated

Thanks
Navin

[cardbhai]

Navin,

2005 to 2012 is a very long period and you can't blame everything on Citibank or HSBC. When you have taken the money it is equally your responsibility to pay it back. And that is according to Indian Banking Laws.

I don't think HDFC would risk sanctioning your loan with this kind of credit history. So I'd suggest you immediately rush to the banks and Settle the issues. http://www.cardbhai.com/2009/01/credit-default-final-settlement-steps.html

Then Build Credit History and then Go For Housing Loan or Go for the Housing Loan in your family members name who has clean credit history and no defaults.

[Navin]

Cardhhai,

Thank you so Much for your suggestion.

One more help please.

since 2005 to 2012 I had lot of loan /credit card and  I paid them in time, infect one home loan/credit card  from ICICI bank since 2003 and I am paying all the EMI in time. and it is still running.

during that period I had completed 5-6 loans (personal/car).

Is that can help me help me applying home loan ? because I thank no one from my family can apply the loan (I am the only earning person in my family) my wife is housewife.

any I have already paid 20% to the builder.

Please suggest any help in this regard

Thanks
Navin



 

[cardbhai]

WoW! 6 Loans Payment Track Record, If Paid in Time and Closed will definitely be a Positive. Still, negotiate and close those defaulted accounts. Don't bother for full payment just go for settlement because you will still have clean track record payment of 4 Loans / CCs [Assuming they are Clean]

So when the Bank reevaluates your Loan Application, you'll have to substantiate with Income Tax Paid Records and  substantial proof that you have good cash flow to payback the loan. Chances will  then be in your favor.

[Navin]

Thank you so much for your valuable suggestion, now I am talking to HSBC (JM Fin)  let see how it goes

Thank you once again
Navin