POSTED BY March 29, 2014 2:32 pm COMMENTS (2)ON
I am going to apply for a home loan. For this i had generated CIBIL report & got a score of 763.
Actually i was out of india for past 2 years i.e, from 2012. During 2011-2012 i had a credit card with Citibank with an outstanding amount of 30k. I simply forgot about it. Now in the CIBIL Report the status of the credit card is being shown as WRITTEN-OFF for the above amount+interest.
The CIBIL site says that persons having 750+ score , have 80% approval rate in getting any kind of loans (Home/Personal/Automotive/Credit cards).
I have another HDFC credit card on my name, which my wife was using from past 2 years. In CIBIL report this card is good. It doesn’t have any bad remarks as the amount on it is being cleared on regular basis[With out paying minimum amount dues] & doesn’t have any outstanding balances on date.
I Also had an Education Loan for 2 lacs which EMI’s are duely paid & closed as of now. CIBIL report is also good on this.
If i go for a home loan what will happen now ?
will the good remarks override my past bad remarks ? Please suggest.
Can i talk to the CITI bank & settle the amount, if so would they remove the WRITTEN-OFF status & change it to some thing positive?
NOTE: Description is too long. Thanks for you time in reading out. Thanks in advance.