process of ICICI credit card settlement

[rafishaik999]

Hi Cardbhai,

   I have an outstanding amount of 38000 now, actually 2 yrs back when i stopped my payment it was around 16K,now i got a call from recovery dept of icici bank, asking me to pay it. how much amount i can negotiate with them? and i want to pay it in installments.and also will they give settlemnt letter after paying the money or they will again ask for the paymnet again? what are the factors i need to consider before i go for settlement? and will they remove my name from CBILL?(If I have another cc outstanding also)plz help me in this sir..

[cardbhai]

1. Pay in FULL whatever they demand and you demand back that  your credit HISTORY will remain CLEAN. Read Posts on this forum on CIBIL reporting explained elsewhere about the "STATUS" they report.

2. If you negotiate, they maybe unwilling to give you a clean chit in CREDIT History.

3. If one time settlement is difficult, then ask for EMIs.

Best