Cibil
deepak
(Querist) 07 June 2013
This query is : Resolved
How much time does a Bank takes to update the CIBIL records for deliquent account after the negotiation and payment is made to bank.?
Is it done on Monthly basis or quarterly basis?
Regards.
ajay sethi
(Expert) 07 June 2013
repeated query . contact your bank manager
deepak
(Querist) 07 June 2013
bank manager is asking to pay money now but he say that it will be sent to CIBIL after 90 days. Is it correct
Guest
(Expert) 07 June 2013
It is correct.
deepak
(Querist) 07 June 2013
Sir is it at the end of every quarter or 90 days posts settlement.
ajay sethi
(Expert) 07 June 2013
(Paragraph 5.1.d of the code of commitment to customers specifically states that "If your loan account has been in default and thereafter regularized, we will take steps to update this information with CRA in the next monthly report
Guest
(Expert) 07 June 2013
After default of 90 days the account is treated as NPA and the concerned bank can notify the oarticulars of the defaulter to CIBIl, which affects the debtor's credit rating, which normally leads to refusal of any further loan to the defaulter by most of the banks and financial intitutions.
deepak
(Querist) 07 June 2013
yes,I have paid the amount back to Bank and they are saying that they will take 90 days to remove the defaulter tag from my account in CIBIL, Is it correct. I believe it should not take this much time. Does bank send this information every month or at end of 90 days from settlement.?
Guest
(Expert) 07 June 2013
Yes, that is not correct. You may approach the CIBIL with proof of credit.
Rajendra K Goyal
(Expert) 07 June 2013
If you are needing the clearance of CIBIL for new loan you may submit Bank Clearance certificate to the loan giving Bank, mostly they are satisfied. If they still need CIBIL report, you have to take up the matter with CIBIL.
R.K Nanda
(Expert) 07 June 2013
agree with experts.
deepak
(Querist) 11 June 2013
Sir, i have discussed the issue with bank manager and he has agreed to correct the CIBIL records for payment of 6000 Rs to bank..
Here is the text i recived on Bank letter pad.
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Dear Mr. Deepak
This is reference to your emails regarding the concern on your IndusInd bank Credit card.
We wish to inform you that as on date the total outstanding reflecting on your credit card is INR 135,810.63. Basis on clarification provided by you, as an exception, the bank will relax balance outstanding reflecting on your credit card Subject to a payment of INR 6,000. Rs. By you to the Bank.
Further, We will also update the NIL outstanding and remove the ‘Written Off’ flag updated with CIBIL (Credit Information Bureau of India Limited) for credit card account.
As requested By you,We have placed a request to cancel your credit card and it will be processed shortly.
We request your support for interim.
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My Query is if they remove the word 'Writeoff' from CIBIl - Is it fine. Or should i ask them to mention it as 'Close'.
The customer care manager says - that NIL outstanding will be reflected in CIBIL and card will be cancelled after 'Writeoff' status is removed.
Is this same as Closed. Cna i get the loans and credit card in future.
Pls assist urgent.
