Hello,
Recently, I'm not able to pay my outstanding amount in my credit card and informed banker that I'm not in position to pay the outstanding amount. On goodwill, they re-writed my outstanding amount as Loan for 48 months with 13% rate of interest.
Before completion of this agreement, I have received mail from bank as given below.
"Based on the exceptional circumstances explained by you we are willing to offer you a Re-write plan of Rs.XXXXXX/- to be paid in 48 installments at a rate of interest of 13% with a monthly emi of Rs.XXXXX toward the aforesaid credit card.
Further to facilitate the payments a virtual card will be issued ,on receipt of payment and on validation of the Re-write plan, we will update the status of your aforesaid credit card in Credit Information Bureau (India) Limited (CIBIL), as Null and the virtual card will be updated as 'Restructured'."
Also an executive called from recorded phone line from bank, stating that if I go with re-write plan, I'm not able to get loan from other bank/ints since my PAN will registered with CIBIL.
Till now, the EMI is getting processed without any default. Currrently, I'm planning to go for a 2-wheeler loan from other bank. Will it get processed? or it's get reject due to CIBIL.
Please clarify. Thank you.
