CIBIL report messed up after 12 yrs of Credit Card Problem

POSTED BY Samir Singh ON November 22, 2013 11:22 pm COMMENTS (2)

Dear Manish,

I had a car loan from HSBC around 12 years back. Since my repayments for 2-3 yrs were on time, the Bank sent me a correspondence saying that they had granted me a Credit Card with a limit of Rs 1 Lac. This card was never received by me, & thereafter some one utilized & maxxed out the card, this was reported to the bank by me, but I dint get an fir done since I was not in India at that time..Thereafter the bank started making its collection agency hound me by calling every ten minutes & coming to my residence to create a scene..In spite of my repeated letters & discussions with HSBC bank officials here in Ahmedabad nothing much came about.In an effort to just clear this issue, I decided to settle with them & paid an installment, but due to my traveling & staying abroad didnt pay the remaining installment..

My Cibil score was 820 in July 2013, now HSBC has filed a report (after 12 years) with CIBIL in October 2013 saying there is 1.5 Lacs outstanding & ‘settled’, due to which my CIBIL score has plummeted to 630. I wanted to know that if I pay the full amount to the Bank, then will I get an NOC, (not a Settled) status & will my CIBIL score revert back its original?? I have 2 other CC’s (all clear,not even a single late payment) & a Housing loan for 45 Lacs which I am paying for the last 7 years on time & there is NO other outstanding/liabilty or overdue amount from ANY other bank..Should I repay the HSBC bank in full? & if so, how long will it take approx for my score to go back to positive??

Await your reply , thank you!

2 replies on this article “CIBIL report messed up after 12 yrs of Credit Card Problem”

  1. Credexpert says:

    Dear Mr. Singh,

    The non payments against this credit card would have impacted your credit score and report. Ideally, repaying the complete outstanding amount and obtaining a NOC would have resolved the problem to a certain extent.

    However, in your case, you should not be considering repaying the amount back since the card was never used by you in the first place. Proving this could be a cumbersome process as you have already paid an installment in the past inspite of not being the holder of the card and did not file an FIR. Also since this issue has resurfaced after 12 years, continuous follow up with the bank would be required.

    Our suggestion would be that you reinitiate your complaint and use all the past communications with HSBC to validate your case (if available). In case of no response or unsatisfactory response, you could also consider filing a complaint with Banking Ombudsman by visiting the link


  2. ashalanshu says:

    Dear Samir, why are you not fighting your case in consumer court first? Let the CIBIL score remain affected. Why are you paying for someone’s else mistake (HSBC people)?



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