CREDIT CARD SETTLEMENT

[sai.1]

HI CARDBHAI & OTHERS,

I HAVE BEEN FOLLOWING UR POST FOR A WHILE AND I THINK THEY HAVE BEEN HELPFUL FOR MANY PEOPLE.

NOW I NEED SOME HELP / ADVICE FROM U ALL, I HAVE THIS CREDIT CARD OF HDFC BANK TOTAL OUTSTANDING Rs.180000/- AGAINST WHICH THEY BLOCKED Rs.30000/- IN MY SAVINGS ACCOUNT. NOW I WANT TO SETTLEMENT BUT THEY ARE NOT GIVING GOOD RESPONCE THEY SAYING NOW THE BALANCE IS APPROX Rs.150000/- & THEY WILL REDUCE 15% NOT MORE THAN THAT .PLZ PLZ ADVICE HOW TO GO ABOUT THE WHOLE SETTLEMENT THING. PLZ EXPLAIN IN DETAIL AS IT WILL REALLY MATTER AND HELP ME.

THANK YOU IN ADVANCE

JAI SAI RAM TO ALL

[cardbhai]

1. Approach the Banking Ombudsman directly for Settlement

2. Follow these Steps -
http://credit.cardbhai.com/2009/01/credit-default-final-settlement-steps.html

3. Negotiate for Settlelement such that you get a CLEAN Credit History without your staus of CIBIL being reported as SETTLED and it should be reported just as ACCOUNT CLOSED no other remarks
Read http://credit.cardbhai.com/2011/07/rules-cibil-status-update-settlement-of.html

4. Advantages of CLEAN History will be better CIBIL Score and LOAN eligibility when you are Buying a new House or Car.