Credit card settlement

[K J KESARI SRINIVASAN]

Hi

I had a Citi Bank Credit card with a limit up to Rs30,000, due to personal problems and other liabilities i could not clear the card payment. Now it has crossed over 3,70,000. and the Status in CIBIL report says Post settled ( Written off ). Is there a  possibility for me to clear the principle amount  dues and have the status as paid.

[chetan]

Going through whatever CardBhai has suggested to others, I believe you are in a very bad shape. Approach the bank and see at what price they will be willing to settle the same with CLEAN History. Maybe then post here and CardBhai will advise.

[tanul8485]

can i get loan after credit card settlement??

I have a HDFC credit Card .. The total amount on my card is Rs. 88,326.00 and the principal outstanding amount was Rs. 40,000.00

I spoke to bank and they agreed to settle my account on Rs. 35000.00, but they said it will be reflect as SETTLED in CIBIL.
 
So my question 2 u and 2 cardbhai is, `

1. What will be status of my CIBIL account after settling the account? If it will reflect as "SETTLED", will there be any problem in future?

2. Will i get a loan or credit card in future if i will settle my credit card account for Rs. 35000.00

2. What will be status of my CIBIL account after settling the account?

3. how much time does it takes after the settlement for CIBIL ratings to improve?

4. How can i improve my CIBIL score?

Also, its just a SETTLEMENT, and i have not paid them in full, does CIBIL entertains/considers SETTLEMENT CASES to change the account ratings of an individual in their database?

Please let me know ASAP and Many thanks in advance.