Credit card payment

well it is better to make one time settlement and make sure that the point is included that you willl not be black listed or your information will not be recorded with cibil.

Either you make or payment or dont make the payment of the settlement. Your name shall be in the list of CIBIL untill unless you make the payment of the full amount, So dont be under the impression that by paying the settlement amount you will get fresh loan or credit card.

In all probabilities settlement is not a positive feedback.

Company is not going to budge easily, since they are at a gainful situation now.

You shall to persist and negotiate skillfully.

The CC Company shall produce many letters, bills, statements on record, which you might or might not have received, as all of these shall be claimed to have been sent by normal post, thus there is no obligation of producing proof of dispatch and proof of delivery.

Your name by now would have been recorded with CIBIL, SATYAM..... Positively.  You can ask CC company to supply you  your credit report, by registered post. As per RBI guidelines company can charge a fee of maximum of Rs.50/- only. CC company which is a member of CIBIL etc. can declare your status as Status: Options include: Suit filed, Willful default, Suit filed (Willful Default), Written off, Suit filed and written off, Willful default and written off, and Suit filed (willful default) and written off.

Settlement letter does not mean that company can not claim amounts.

You should ask the company to waive of all charges including late payment, penalties, interest, finance charges, etc and supply you their bill/statement showing the amount to be paid by you after all waivers and receipt of two EMI's paid by you, and a letter stating that amount shown in the bill number………..dated………...enclosed herewith this letter is the last and final amount to be paid by you, and company shall clean your credit history and delete your name from list of defaulters from all credit rating agencies including CIBIL,SATYAM and shall supply you certified copy of your credit report from all credit rating agency, and No dues certificate ,at their cost, by registered post/speed post only, and that settlement shall no adverse effect on the credit ratings of the customer which is a criteria for sanction of loan for requirement of the customer.

While you may make the language of settlement tough and suitable to you for your future interest, pay your debt and clear your matter asap.

CC is basically for convenience in situations when carrying cash is difficult.

Debit card is much better option, as you spend with in your limits and do not fall under debt.