I applied for a credit card in 2004 while working for a company and gave address of the house i was living on rent in
The card was misused and exhausted of its limit of Rs 15000 at one go after a year as per cc company.I came to know after phone calls started coming to me regarding its payment.i have explained to the company that i didnt get the card and hence i will not pay.they have put my name in CIBIL and I am not able to get any loans.
I have 3 other credit cards of which I am paying all the dues on time without delay in payment.
Now after 5 years again phone calls started coming to settle dues worth 1.50 lakhs ,I said i will fight in the court of law, now the company is saying to pay only Rs 6000 as one time settlement and we will send you a zero statement. In the settlement letter they have stated that the performa is the same and stated that I am a defaulter and couldnot settle my dues and as a exceptional case company is doing this settlement
Please advise as to would this settlement be in my favour, will I be able to remove my name from CIBIL or I should ignore this or file a case in consumer forum.