Hi everyone
I have an issue regarding the written-off status of my Axis bank Credit Card account in my CIBIL report. The sequence of events are as follows
Had taken a Axis Bank corporate credit card in 2007 when I took my first job.
Left job in mid 2009 and headed for a 2 year MBA program. Availed a student loan from SBI for my studies and continued using my Axis credit card.
Left the B-school in 2011 and took up a new job in the summer of 2011.
For one of the months in 2011(April I guess) I missed a payment of my credit card by a week and the bank levied late payment fee and interest charges. Outstading amount was around 54,000/-. I called up the customer care but they did not reverse the late payemnt fee and the interest charges. I got furious and being young decided not to
pay the outstading amount. Was closely observing the interest being piled up but was not bothered to pay the amount. By mid 2012 the amount was close to 75,000/- and the card got expired.
I got married in 2012 and was busy with life and totally forgot about this unpaid bill in the summer of 2013 I got a call from a guy (claimed to be Delhi police) saying that a case has been registered on
my name and I have to attend the court proceedings at the patiala house court. Luckily I was in Gurgaon that time and was sh*t scared hearing that. The guy who called me even gave me a lawyer's number who is taking up the case on behalf of Axis bank. I called him up and told him I am ready to repay the amount instead of going to the court
He suggested me to pay 50,000 into my axis credit card account which I promptly did by depositing cash into my credit card account at one of the axis bank's branches. Even though I was terrrified I did a google search before doing the payment about "calls from delhi police and case at patiala house court for credit card payment". The
google results suggested that they are recollecting agents and the calls are intimidating calls to recover the amount. As I was having cash and since they are asking me to pay directly to axis credit card account I went ahead and payed the amount 54000(though they asked to pay 50000 I payed 54000 as I remembered the last outstanding was 54000/-). I was not dumb to hand over the cash or transfer to some other account, since they asked me to pay
to my credit card account itself,l did the payment
After payment of the amount I took a lawyer's help and visited the patiala house court to get in touch with lawyer
taken up the case on behalf of axis bank. We tried calling him up after reaching and the wrong directions and finally we found that there is no person with that name working as a lawyer in that court
Post that payment in 2013 I was never approached by Axis bank to pay any further amount but the credit card account was shown as written off in my CIBIL report.
In 2014, I wanted to take up a mortgage loan from HDFC and they raised this written-off issue before approving the loan. I told them that I paid the principal amount and even showed the deposit slips which I have kept preserved with me. As I was paying my education loan within time and without fail HDFC bank ignored
the written off status and sanctioned the mortgage loan
Sometime in 2015 1 tried applying to a credit card but was denied
In 2016 ICICI which had our salary accounts with them offered credit cars to employees and they offered me a credit card.
In 2017 I took a new credit card from HDFC
In 2018 I have taken up credit cards from Standard Chartered,SBl and kolak too.
My current CIBIl score is 819.
Recently I wrote to Axis bank asking them to refund the excess 4000/- which I paid them in 2013.I got a reply from them saying that the excess amount will be adjusted with the CIBIL masking charges to clear the written off status if I decide to pay the outstading amount(amount not mentioned in the email).
My dilemma is: I already have a healthy CIBIL score of 819 as I completely paid my education loan(13 Lakhs) and on
track of paying back the mortgage loan(25 lakhs). Should I pay Axis bank to remove the written off status ?
It wontimprove my credit score at all and more over I read that the debt written off status will stay only for 7 years.
My account went into written off status in 2012 and seven years from 2012 is 2019, so will the account be dropped off from my cibil report in 2019 even though I don't pay anything?
Eagerly waiting for suggestions.
