harinadha (student) 01 October 2011
Dear experts ,
one of my friend taken a cerdit card on 2007 .due to some financiale reason he is unable to pay the due amount .
he was always keeping the mail to partuclar bank people through his net banking and ask his due amount .but
there is no replay from there end .the cerdit card limit will 26000/- now in the online banking it seems ' we need to
pay 60000/-.can u suggest me how it will be settle the account.after he settle the account his will be out of
defulters list or not we want know?
Nadeem Qureshi (Advocate/ nadeemqureshi1@gmail.com) 01 October 2011
Dear harinadha
talk to bank official for settle the case but after settlement the CIBIL can not remove your friend name from defaulter list till 3 years after that if the bank approch the cibil to remove it only then the name can be removed but after settlement the point can be deducted from credit history
Kumar Doab (FIN) 01 October 2011
Obtain from the bank:
-both, the minutes of discussion and settlement details and date fixed for payment of the amount agreed upon with bank Employee in writing under proper seal and signature.
-written statement by bank that receipt of the payment shall be issued on the spot at the time of making the payment.
-Name of the card holder shall be deleted from list of defaulters and credit history shall be cleaned by the bank and CIBIL report shall be supplied by redg/speed post by the bank within 15 days at their cost and consequences. The name of the bank shall be reflected in the CIBIL report.
-Name of the card holder shall be deleted from list of negative feedback maintained with Master Card (SATYAM), and any other credit rating agency.
Suggestions from learned members/experts are sought.
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