Remove “Settled” remarks from CIBIL Report

POSTED BY Prabhakaran V ON November 22, 2012 11:21 am COMMENTS (160)

How can i remove the remarks “Settled” from the CIBIL Report.  Whether this remark will lead to rejection of Loans and credit card

160 replies on this article “Remove “Settled” remarks from CIBIL Report”

  1. Sai says:

    Good morning sir
    Who was authorised person to remove suit filed cases in cibil report

  2. hariharan says:

    I had a credit-card payment status as written off, I had paid the total outstanding amount with the interest they put me last month (20/07/2017). I found the CIBIL report was updated with the credit card status got cleared but still my Credit point remain same which was never updated.

    Can anyone help me when my Points will get updated. I am in urgent need for an educational loan and i need be admitted in college on September 2017. Kindly do the needful.

    1. Points will get better, but not by significant number. Neither you know if it will get updated suddenly.

  3. goutam says:

    I have applied for personal loan from SBI recently. But they rejected on the ground that in CIBIL one status shown POST (WO) SETTLED whereas I have repaid the amount in 2009 and NOC lying with me. But till date, the status has not removed. But the problem is that the lender bank has wind up their business. Surprising to note that during this period I had taken several loans from Bank. But this time they have raised this issue. What is the meaning of POST (WO) settled? My Score is 810. I have write a query to CIBIL authority in this regard. Whether can I get loan from bank or not in future? What to do? Please reply.

    1. I think you should meet the SBI branch manager and show them the NOC and give the reasoning !

      1. goutam says:

        Good evening Sir. I was eagerly waiting for your response. Sir, I have already meet him with NOC and submit the facts before him. But, he denied to approve the loan untill & unless remove the status from CIBIL. In this regard, I have mailed the facts & figures with attached copy of NOC & also dispute arised. I am in dillema Sir. How long this status will be continued? Whether there is time limit or not?

        1. Sadly there is not short time limit on the status. It will be there for around 10+ yrs.

          You should check with CIBIL on this again and check with them on whom to meet? If the lender has closed the business, then their business must be taken over by someone else. Contact them and fix this

          Manish

          1. goutam says:

            OK thank u Sir

  4. Junaid says:

    Hi, I have closed my hdfc credit card and there are no dues, after I raised a dispute, now my remarks of “Settled” has been changed to “Clear existing status “.
    Is this a problem or not to worry as blank has not been left.

    1. I think it should be fine now !

  5. Ram says:

    Hi m from Kolkata. I have taken personal loan from a company they have first told me that loans emi will be for 36 month but now I came to know loan is for 48month and also they are charging for unnecessary charges. While paying emis on due date. But I want to Seattle this loan account in once. How can I or what I should to now???

    1. You can go to branch and pay in full, but I think there will be charges for paying in full !

  6. Projit Paul says:

    My cibil score is 809, I have closed my two wheeler loan. But in 2013, I got a credit card from HDFC which was settled in 2015, and the Bank has reported as Post (WO) settled in Cibil report. Later on I applied for credit card from SBI and they approved it. But whenever I tried to apply for Personal loan from any bank, it’s getting rejected.
    Could you please help me in this case. How can it’s possible to get a credit card from SBI and not getting Personal loan?

    1. It would be very tough now.. the remark is WO , means written off and its a very negative remark. Kindly try to remove that remark now !

  7. K J AIYAPPA says:

    My dad’s credit score Is 828 and he has a law suit under his name.Wen I applied for a Education loan ,the Bank denied the loan because of the law suit.How can the law suit shown in my dad’s credit score be removed?

    1. You need to get in touch with the lender on this and see what can be done !

  8. MOKKAPATI VIJAYA KUMAR says:

    How can i remove the remarks “Settled” from the CIBIL Report as this remark will leading to rejection of Loans and credit cards, please suggest me.

    1. You need to contact your lender and see if you need to make any old payments?

  9. Rajesh says:

    Hi ,

    This is Rajesh, my status in CIBIL report is Suit Filed(Wilful Default). My score is 840 in CIBIL. Am I eligible for any loan. If not, please suggest me ,how status will get change. I am planning for loan.

    Regards,
    Rajesh.

    1. Nandish Desai says:

      Your score seems fine you can apply for a loan

      1. Rajesh says:

        Hi Nandish,

        Thanks for clarification.

        One more query, there wont be any problem with my status i.e. Suit Filed(Wilful Default) ? .
        Loan will be linked with status and score or based on score only I will get loan? Please clarify.

        Thanks,
        Rajesh.

        1. Status is surely what matters . You need to fix it asap by contacting the lender

          1. Mandeep says:

            Hi Manish,

            I have settled and writtenoff status in my Cibil report for few cards, I have heard these records are with Cibil for 7 years. If it’s not true then for how many years these settled remarks will be there in Cibil if I don’t pay the rest amount.

            1. It will be for minimum 7 yrs, the maximum you do not know . I dont think you should rely on them being removed. Better pay them and get it fixed.

              Manish

    2. Ranjani says:

      Hi manish

      I got a education loan and settled that after 7 years in a settlement., if I repay the balance payment will it increases my cibil score. How much it will get increased, what should I do to boost up

      1. Yes, it will first fix your report remarks and also boost your score, but there is no formula to tell how much !

  10. Nandakumar says:

    My cibil score is 822 but have post (wo) settled for one credit card of 2008. I have applied for auto loan, personal loan and credit cards which was granted for me and have faced no issue till now. I am applying for home loan now. In parallel I am contacting the bank with whose credit card I have issue. So for home loan is it fine if I get NOC from the other bank in case any issue crops up. And once I pay the remaining amount how long will it take for me to get NOC.

    1. Nandish Desai says:

      You will have to check this with your Bank. It should not take more time if your credit history is strong and clear

  11. sandeep r c says:

    I am sandeep from Kerala. I bought a two wheeler vehicle in 2014 for EMI from hero fincorp Ltd. I got a call from hero that my cheque is bounced in first EMI itself, but I had sufficient in my account as it was a salary account. Hero told me that they forgot to give me ECS form. I asked them to bring the form, instead of that they told me that agent will come and collect Emi amount from me. from that day onwards the agent comes and collect the amount. I have only one pending Emi. After two years I got a call from head office that I have cheque bouncing charges.as I was unaware of cibil score I scolded them.lastweek I went to buy a two wheeler from Tvs .after verifying my documents they told me that I have cibil score (purple) and rejected the loan. Pls help me how to get rid off cibil score.i contacted hero and they told me that I have bouncing and late payment charges nearly 5000.they told me that they would waver the amount and reduce 2000rupees. What is the procedure to remove cibil. Pls reply.

    1. This needs to be resolved with the lender itself, They need to update the remark properly and you need to ask them what you need to do for that?

  12. Santhosh says:

    Had an Education loan with SBI, which i have not paid, now they have outsourced to Reliance. My Status in Cibil for this shows as WRITTEN OFF. Now i have paid the amount to Reliance & got an NOC. Will my Cibil score get increased here??

    1. Yes it should. Make sure you check its status with Reliance and also keep checking your CIBIL !

    2. Chezhiyan says:

      Dear Santhosh,
      I am also having the same issue. May I know, what is the status of loan in CIBIL after the payment?
      Whether you paid full outstanding or did partial settlement and got NOC?
      In NOC, what they mentioned? either
      Settlement in full / settled partially / loan is closed / loan is closed with no dues .

      In my case, bank is asking for settlement amount lesser than the principle which I have got. I am in thinking, what to do? Whether move for the settlement lesser than principle amount or payment of full outstanding.
      If I will pay, partial amount as settlement,I don’t know, the bank will remove the status WRITTEN OFF from CIBIL and in NOC what they will mention.

      Thanks in advance

  13. sunil kumre says:

    Dear Sir,
    I had a credit card and Vehicle loan which I settled in 2010 – 2014 . In settlement I paid all principal amount only for balance interest bank gave me some discount and settled it. My cibil score is 846 but I recently applied for a loan and got rejected. When I see for rejection – both loan account is showing as settled. How to get these remarks removed from my cibil account.

    1. Did you actually settle the loans (by paying less amount) ? If yes, then you will have to repay the full amount .

      Manish

  14. Moumita Chakraborty says:

    Hi, I recently applied fr a citi bnk crdt card but it got declined as they found my nm under cibil record which was settle in 2010 fr hdfc credit card…I paid d settlement amount but still my NM is thr…How it can b removed

    1. If you have paid the partial amount (settled) , then it will be there, It cant be removed. If you want to remove it you need to talk to the old company and settle all the amount !

      Manish

  15. M. Vijaya Bhasker says:

    Dear sir,
    My problem is that I had a loan pending for a long time ajd settled on 27.02.2017 in SBI. They also given me loan settled certificate. In SIBIL the same loan showing written off and the bank authorities said that it will be updated with in 45 days but till today it is showing yhe same result. To whom I have to complaint in this regard.

    1. Yes, it takes some time to get updated. If its more than 45 days already, you need to again talk to bank officials !

      1. M.vijaya Bhaskar says:

        Thanks Manish sir,
        After your reply I contacted the concerned SBI branch and told them to send a email in this regard for updation as 45 days completed. But they innocently asking me to send the email id to whom they have to send e-mail in this regard.
        Sir may I know the email id for sending request for updation? So that I’ll convey that to concern bank officials.
        Thanks in advance,
        M.vijay Bhaskar

        1. I am not sure on that !

  16. Chanchal says:

    Hi Manish,

    I had a credit card and loan which I settled in 2009 – 2010 . In settlement I paid all principal amount only for balance interest bank gave me some discount and settled it. My cibil score is 740 but I recently applied for a loan and got rejected. When I see for rejection – one loan account is showing as written off and 3 showing as settle. But I had asked bank that will be settling will affect my cibil, they said no as I am paying full principal amount and some relief is given for interest amount., How to get these remarks removed from my cibil account.

    1. I dont think its going to be easy for you.

      If you do not pay full amount (with interest) , its surely not going to be updated as CLOSED . It will be settled !

  17. Karthik says:

    Hi

    I have taken a credit card from HDFC bank in 2012 I was that for some months any paying then total bill on or before the due date.. I am but in 2014 I had some family problems so I did not pay the bill till now but now I’m ready to clear the bill outstanding with interest. I am can I get personal loans after that?

    1. Once you clear the outstanding loan amount, your CIBIL report will be updated with remarks, but your past history will always haunt you . You cant do anything for that !

  18. Santosh Bhairawadagi says:

    Hello Manish,

    I have not gone for settelment for 13000, I had paid full payment of 43000. But in Cibil it is showing settled and I have NOC for it.
    How can I proceed to change it, could you please suggest?

    Thanks
    Santosh

    1. In that case the bank has not updated it properly with CIBIL . talk to bank on this .

  19. Shashikant says:

    Hi, there is settlement of HDFC credit card in Feb-2016, How it can remove because whenever I apply for Personal loan or credit card it always get rejected due to settlement in Credit Card.
    Regards
    Shashikant

    1. You need to talk to the credit card company and pay the full loan amount to get it rectified !

  20. Amarnath says:

    hi Manish,
    This is Amarnath, I had a personal loan account with Axis bank 5 years ago which is closed successfully1 year before the loan closing date. Though i missed many EMI’s , I cleared the whole amount after that with interest (what ever they told). When i checked my CIBIL recently, my score is 804 but there is status against this loan saying SUIT FILED. because of this status i am not getting any loans/credit cards though my CIBIL score is 804.

    i wrote an email to Axis bank regarding this i got reply saying “As per the process every transaction will be reported to the cibil on regular intervals and the same cannot be modified or removed”.

    Now can i get rid of this SUIT FILED status from my CIBIL?

    Thanks in Advance.

    1. “Suit Filed” is a very bad remark .

      Its filed when you are not paying your dues on time, and the lender has marked you as willful defaulter.

      It might happen that you have cleared you loan later, but then it does not that your remark will be removed because it was real thing at some point of time.

      I dont think you can get rid of that.

      Manish

  21. Tarkeshwar Rai says:

    Sir in March 2016 my cibil score was 728 on transition site .applied for p loan but rejected .This year in march17 my cibil score on transition 775 and another site 868.I have no loan of any type this time.But in cibil report due to wav off 4860/settled status is showing.My salary one lac monthly.I am engineer in central govt. I want p loan.Is it possible.

    1. Only the lender can tell you if this is possible or not. But if there is a settled remark on your report, then its going to be very tough to get the loan !

  22. Tarkeshwar Rai says:

    My cibil score is 775.My HDFC agent by frodism taken 9860/ and pay only 5000 and wav off 4860/ and hence settled status is coming in my cibil reprt.hou can I remove settled status.

    1. So you paid in CASH ? For settlement ? Unless you have proof for all this, how will someone believe this ?

      1. Tarkeshwar Rai says:

        Yes l have paid cash

        1. Then there is a problem!

          When you pay in cash, you dont leave any proof of payment. There is no proof that you paid that money as there is no link between payment and reciept.

          The guy seems to be a fraud who took the money from you !

          Manish

  23. Faiyaj Shaikh says:

    Hi, I had setteled my HDFC credit card in 2015 but I did not getting loan from any bank due to setteled remark in CIBIL report
    So I discuss with banker & paid rest amount in 2016 after that I have got NDC but When I checked my CIBIL report in Feb 2017.
    There is still showing remark as a setteled. So please give advise what can I do ?

    1. The CIBIL is updated monthly. But the new remark will appear in 3 months !

  24. sandeep says:

    hi Manish,
    in 2013 i have settled and closed two account of my credit card, paid the amount as per bank
    1)SBI card
    2)HDFC bank
    now when i saw my cibil report SBI have removed from negative remark from it but HDFC bank still shows in report i have both bank NOC but missed it somewhere, so how can i get it remove HDFC account .

    1. It should not be removed ideally. Thank God that its removed from one place !

  25. vinayak s kulkarni says:

    I had AXIS Bank credit card which has settled in 2009 with the said amount to me. Total limit to card was 32k.
    Now after 8 years I found myself in CIBIL with status SETTLED. When I contacted AXIS bank , they are saying to pay Rs 2,25,000/- ( Two Lakhs Twenty Five Thousand Only) to clear CIBIL Masking.
    I feel very surprise to understand that AXIS wants me to huge amount to clear CIBIL masking. My query is how to verify whether amount correct or not ?
    I am saying them that I am ready to pay up 50K to get my name clear from CIBIL but they are not agreeing for that. Please advise how to clear.

    1. If you have SETTLED the loan in past (if you paid less than what you had to pay) , then the rest amount must have grown with all the interest and late payment today. I think you need to talk to them about it and negotiate the amount !

    2. CHANDU says:

      I WILL GIVE YOU CIBIL REPORT IF U PAY 150/- RUPEES TOWARDS PROFESSING FEES

      1. But is it not FREE ?

  26. anu says:

    Hi Manish,

    I had two earnest money loans which were closed well on time. I also had one credit card from SBI since 15 feb 2015. i have always paid my dues on time. I requested for closure of card in oct 2015 but forgot to take noc. there were 400 rs left which kept on adding up and now the amount is 4500. the default was on account of miscommunication as all my bills were sent to official address ( SBI) and I had resigned from there in oct 2015. Now I have paid the full amount 4500 rs and my score is 629. I have requested for cibil rectification . will my sore increase as I have no other accounts or had in past except two emds

    1. anu says:

      there are no remarks such as written off or settled on my cibil. Also i have a provsional loan offer.. thats why I checked mycibil and want to rectify it as soon as possible.will my score increase once the credit card overdue becomes nil and closed ?

    2. Yes, but give it some time before it moves up

  27. krishna says:

    Hi I have some written off status in my cibil report . How to remove them from cibil. Also please let me know hw long will this process take

    1. gorav ahuja says:

      seven years after score become as vry low may b 200 or 250 u will be newer take any loan same trouble again or make again ur cibil score as a same if u lost 85000 in current year or divided by that amount in seven years after remove ur name in cibilscore or u never get any loans or credit card also u can build again ur cibil score or wait next 3 years or 7 years after see you score get come high again or after take any loans but one garunter compelsory ur loan garuntee takes if he or she will not pay the loan or credit card bill I am responsible for the loans as a full responsibility of ur loan who one take . if no bdy take responsibility newer get a loan of any types….

  28. Bhupendra says:

    HI
    Settle showing in my Cibil Report so how can I remove from same.

    1. Pay full amount to the lender !

  29. Sai Krishna rao says:

    In 2011 Due to Banks mistake my salary was credited excess erroneously, later I left that organization and never used that SBI account. in 2016 I was in some financial problem and applied for personal loans , every time it is getting rejected . I took cibil report , I saw there was some comments as Restructured Loan and amount mentioned as rs 2729/- . I gave a call to Cibil care and took the bank details and on 3rd Sept 2016 I settled the amount with the bank with complete interest Rs 4500/-. Bank manager said the report will be updated in 40-60 days. Again I applied for personal loan in Dec 2016 it got rejected again . Citibank team sent a cibil report still it showing the same outstanding amount and comments . So , please help me how can I come out of this and where can dispute this to get a loan or credit card.

    1. Hi Sai Krishna rao

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

      1. Bikiash says:

        Hello Manish
        This Is Bikash.
        I have setteled my credit card with the amount of 20000 and my credit limited was 30000 and alos i have taken a bike loan the bike loan EMI was upto date payment till now .
        So can my civil score got improved ?

        1. If you make all the payments fully, you will improve your score !

  30. Dinesh Baldewa says:

    I had credit card dues of RS approx 27k and I paid it recently. at the time of communication, the bank asked to pay 27k and said after amount paid you will get NO dues certificate. so I had paid the full amount of 27k. but after 4 months when I checked my Cibil report it shows settlement/written off status there. I contacted back to Axis bank and asked to remove this then they started demanding another amount in form of interest which they did not mention earlier in any of their communication neither they said this was a settlement process. now I want to know when I had paid the full amount of dues then how can they put written off status in my report. and second thing how they can demand interest amount after paying the full amount.

    1. If they are not honouring what they said earliar and given in written, then you should move to court on this matter !

  31. Ramesh Rayate says:

    HI,

    Mu Brother having the Credit card loan and some EMI was not paid timely,
    The bank third party agency has called and ask for settlement on verbally ,there is no any communication for settlement in written.Now bank has updated the Settled remark.
    I have paid fully and got the No dues certificate also and communicate with bank to removed the settled remark from Cibil.
    Can Bank removed the Tag and How much time will take for this as per the Rule

    1. They should update the status as Closed after Written off or something like that, check with the bank on this

  32. karthikeyan says:

    I need to settle all the payments pending which is showing in cibil report ..pls guide or contact no please

    1. You need to contact your lender for this.

  33. moona says:

    Sir I used credit card sattelled I am not getting personalloan

  34. Vilas says:

    I had settled 2 credit cards full and final settlement , due both the bank was closed & after 3 year new bank
    was collected this payment SO how to rmove this settled tag from my CIBIL REPORT

  35. SUKUMAR says:

    What is the solution to customer for cibil report default status – settled. What are the actions are taken by GOI to protect the settled customer for taking future loans. Pls guide me.

  36. mohan says:

    Dear Sir,

    Your repied not fulfil our doubts, We know that we have paid part amount and settled. So, you can guide us how to solve the issues. if we pay all dues means why should we come to you.

  37. GiriPrasad says:

    Hi,

    I have cleared my credit card and they are issuing a letter stated my account is settled. please advice do i’ll get a new loan in future

    1. GiriPrasad says:

      First CC- Total Amt- 51000; Setteled Amt- 35500

      Could you please let me know that what i need to do to remove these details from CIBIL

  38. mahajan A says:

    Hlo sir
    My father cleared his previous loan but still the cibil shows the written off/settled status… Its create difficulty for taking another loan……
    What’s its reason?????

  39. NARESH says:

    i have settled one Two wheeler loan in the month of 2014 till date that account is shows settled in my CIBIL & creates problem for me to apply for new loans.

    1. Yes, it will always be there unless you pay it off !

  40. Mahi says:

    Hi Manish,

    I have done the settelement of two HDFC credit card long back and below are details of the same.

    First CC- Total Amt- 76000; Setteled Amt- 39500
    Second CC- Total Amt- 30000; Setteled Amt- 30000

    Both credit card setteled in year 2007 and 2008 . But still after 8 years both CC details appearing in CIBIL with status “setteled” and beacuse of that i am facing to get any new loan or CC.

    Could you please let me know that what i need to do to remove these details from CIBIL as these are pretty old.

    Thanks
    Mahi

    1. Its mentioning SETTLED because you settled 🙂 .

      Unless you pay off the full amount, it will not be removed.

      I suggest you read this – https://www.jagoinvestor.com/2016/08/correct-cibil-report.html

      1. KAMAL says:

        Settlement means both the parties agreed mutually and settled. Then, Why the bankers and cibil shows the default status as settled. As per Norms, Only 7 years data should be maintain in the cibil, then why should they showed past 8 years

  41. Imran says:

    I have settled 3 cc and 1 written off cc in 2009. now i have cleared the written off cc only. meanwhile i have opted for car loan in 2013 and home loan in 2016. also i have one secured cc for almost 2 years now. my CIBIL score is above 800 pts. Can i get a CC now from any bank?

    1. We cant predict that, but if you already got home + car loan , you have good chances of getting a credit card too !

  42. Ashutosh says:

    Hi Manish,

    I need a a little detailed help from you. I had got a car loan from hdfc for a second hand car. After paying for the first 5 months and then not paying any EMI for 6 months, i surrendered my car to the bank. Can you tell me if the car is auctioned at a price less than whatever money I owe to the bank currently, will I go to court or worse for it?
    Can I get your email id for detailed discussion?

    1. I have no idea on this at all 🙁

  43. SKR says:

    Hello Manish,

    I paid the old outstanding dues to Credit card. How can it updated in Cibil. Shall i forward document of payment to Cibil or Bank will update to Cibil.

    1. Your bank will update it with CIBIL . Check with them if they updated it or not

      1. SKR says:

        Thanks Manish , any time frame of updating CIBIL data by banks.

  44. suhail says:

    Hi Manish , i have 2 credit card with written off status , if i will pay them in full , will my credit rating increase in future

  45. PhaniKumar says:

    Hi Manish,

    My Cibil Score 550 due to that I have taken Car Loan from Third Party will it helps us to Increase the CIBIL Score

    Phani Kumar

    1. Only if your lender updates info with CIBIL !

  46. Judes says:

    sir, I had taken Jewel Loan from various bank, all of its closed in time. but cibil report shows all loans which I have taken from banks.
    I would like to get cibil report what ever closed/settled in time, that all must removed.
    Please advise how to remove these reports.

    1. You need to contact all lenders and pay off all the pending money you owe !

  47. Viswanadh says:

    Hi Manish ,
    My father is having two records in cibil as “POST WO SETTLED” for two credit cards closed in 2009 , when we went to bank to take education loan they had rejected the loan because of this cibil record. I contacted the cibil customer care , they told it is not possible to remove this status because it is how you made the payment they are saying..I had also contacted respective banks credit card customer care, they had registered my complaint and they told ,they will make complete it by july 13th..i need to go for foreign in july 2nd week..my loan didnt sanctioned.What should i do now ?? will those records be cleared by bank itself ?? can i trust them and go for studies ..? as my parents can take education loan after getting it cleared.
    Please give a suggestion for this issue.

    1. HI Viswanadh

      Its a tough situation. Resolving CIBIL issues is time consuming and it can take a lot of time. One can say with surity if you will get the loan or not

  48. Naeem says:

    I have settled my sbi credit card recently with 52 k which has total of 72k, but in my cibil score is goes down also a selleted
    Status us coming in cibil report, after how many time settled status removes from cibil report. please help

    1. naim says:

      Hi Manish,

      Can you please help me out

    2. Its because you have settled your credit card dues, You should have paid it fully !

  49. suman says:

    Hi, i have settled the 2 of my credit card very recently where amount due was around 2.3 lk and settled for 80k, and status in cibil is post WO. will my cibil score will raise in future or it will be still be going down.

    1. It will not get better unless you pay all dues, I think you are making a mistake

  50. Pravin says:

    Dear Manish,
    I settled the BOBcard a/c in June 2015. I used card in 2003. The limit of card at that time was Rs.25000/-. I settled the case in Rs. 37000/-. and they marked Post (Wo) Settled in Cibil Report. I contact them and they told me the CIBIL masking amount is Rs.5.95 Lakh. I told them give the NOC , i will rady to pay 1 lakh in 4 month. But they deny it and replied pay full masking amount. So kindly give the solution.

    1. I dont think there is a solution for this. You either pay or dont pay !

  51. Poornaraj says:

    I have settled all balance amount of HDFC bank credit card & got no due letter before 5 months, but still not yet updated in CIBIL. please help.

    1. Did you check with the HDFC on this if they have updated the status ?

  52. Suhas says:

    Hello Manish

    I had SBI credit card which has settled in 2010 with the said amount to me. Total limit to card was 30k.

    Now after 6 years I found myself in CIBIL with status POST (WO) SETTLED. When I contacted SBI, they are saying to pay Rs 44500/- but saying that they are not able to give me any statement.

    I feel very surprise to understand that SBI wants me to pay Rs 44500 but not in position to provide me any statement. My query is how to verify whether amount Rs 44500 is correct or not ?

    I am saying them that I am ready to pay this amount to get my name clear from CIBIL but provide me account statement but it is not happening. I am very surprise with this approach of SBI one of the reputed bank in India.

    1. they have to provide the reason for quoting Rs 44,500 . And I think it would right number, because the amount you didnt pay , for amount would have accumulated a lot of interest.

      File a RTI query now to SBI for this information !

  53. RAMANAREDDY says:

    Dear Sir

    I have 9 accounts in negative mark in CIBIL report and all of those are settled status from 01-01-2010. When these account completely disappear from CIBIL

    1. It might take many years. May be a decade or even more than that

  54. osho says:

    i had also made 1 month late payment for credit card. so in near future if i donot have any forsite of getting loan.

    shall go for 1 time settlemnet and finish the headache for atleast 1 loan

    1. Pay all the money and pay off the debt fully !

      1. osho says:

        Manishji,

        i asked for real option since due to 3 loans credit score is bad and it wont be good till 5 years,
        i am paying heavy interest and late fee so atleast if i settl 1 loan or credit card,i would be better of paying 1 loan without default and late fee and atleast credit score will improve atleast after 5 years.
        I wanted your advice how to intiate settlement
        regards

        1. In that case you need to contact the bank and tell them that you cant pay fully or on time and you would like to go for settlement.

          1. osho says:

            Thanks lot Manishji,
            Just 1 query to tell the bank what will be the amount i must start with them for negotiating and should i stop making payments first to be more clear how to intitate this settlement

            1. I cant suggest that from my end

  55. osho says:

    hi,
    i have 2 loans 6 lac and 3 lacs,but i am paying EMI lately with checque bounce charges and late fees,i mean i have to pay on every 5th but i pay on 30th,does this effect cibil score? almost 8 moths i am paying it delay

    1. Definately .. its going to have a bad effect on your CIBIL report !

  56. Venkat says:

    Hi Have taken loan from ICICI banks and some of the moth i have missed the payments and 6 check bounce are there.
    Finally i have cleared my all dues and closed the loan one year back . now i am applying for a loan with other banks they are rejecting my loan even i have a good credit score. they people are told me in my cibil report ICIC people has put some late payment and check bounce comments due to this my loan is rejecting.

    can you please help me how to remove cibil negative comments… when i will get new loan..

    1. You cant remove it. If you have done late payments, then its going to be there in the report. You will be having tough time getting loans with that kind of history

  57. vinod says:

    I have settled all loan amount of syndicate bank.and it is 80days now and still not yet updated in CIBIL.please help.

    1. Check with the bank if they sent updated info to CIBIL ?

  58. sovan says:

    In many cases observed after settlement of loan, CIBIL status not updated and i think it should be mandatory by the bank automatically updation after completion of 60 days. RBI should take and initiative such kind of issues because as banks are regulated and governed by RBI.

    1. Yes, however in reality its not happening that way . You should ask the bank to do it manually !

  59. prakash says:

    I Have taken personal Loan from Fullerton India Ltd (Andheri Branch Mumbai) of Rs.40000/- (Loan Account Number 036125000006830) as per agreement of Rs. 2385 for Two Years.
    While sanction My Loan i was demanding Loan Agreement papers from their Andheri branch office but they have not furnishing a copy of the loan agreement or enclosure quoted in the loan agreement stating that as per our company policy we not give Loan agreement papers to our customers. Than as per terms i timely paid EMI of Rs. 2385/- for Two years (I.E Total amount Paid 57240/-).
    After two years of the term i had visited their Andheri office & demanding NOC letter they refused to give NOC letter stating that your loan agreement is three years . (they are charging interest rate of 53%.)

    While sanction the loan they told me that agreement is for Two Years accordingly i have sign the various loan agreement papers they furnish. Now i come to know that they cheat me by making fraud Loan agreement papers. Than i meet their Branch head but she refused to do any help.

    After six month their collection team start harassing me & my wife. Whenever they called me i refused to pay the balance amount as i am not in a fault than i lodge their complaint to Grahak Seva but they not take any action of this company. But after launching the complaint in Grahak seva they stop harassing me.

    Last month Fullerton India Collection Manager Mr. Santosh Ghadge Khar Branch (Mob. Number 8419907979) called me & said you have Loan outstanding & you have to visit our Khar Branch for settlement. I visited to their Khar office & their manager told me to pay 15000/- for settle the Loan.
    I refuse to pay & told them i will make your complaint in Police but i have not lodge the complaint as i am busy with one Project.

    Three days back on Saturday Mr. Santosh Ghadge (Collection Manager) called me & pressurize me for paying settlement amount of Rs.11500/-. He told me that Rs.11500/ is a Small amount why not you pay the balance amount immediately ,why you waste your time.
    I refuse for settlement as i am not in a fault their manager cheated me by making fraud loan agreement why should i pay 11500/-. As i don’t have any proof of evidence they trying to cheat me & pressurized me that if you not pay the balance amount we will lodge your complaint in court.
    Now i come to know that they put My name in CIBIL.
    From Grahsk seava & consumer court i have found fullerton India various cases of cheating. They cheat people by charging higher interest rates & making fraud documents. If police investigate their branches they found more cases .
    In my case they put My name in CIBIL where i don’t have any fault.
    Regards,
    Prakash A 8007879719

    1. Satish says:

      Yes they will put on CIBIL after taking settlement amount I also not know I think just cleared known latter on cibil check high interests after demand settlements and after Harrison on cibil

  60. APS Singh says:

    Hi,
    I have an issue for one SCB credit card which I settled in Yr 2007 in after paying desired amt 30k from bank and after that I though its closed, But last year when I was seeking for home loan at that time bank which was providing home loan have pointed in that major outstanding against one of the credit card is reflecting as “write off” , As it was very old case then I check the payment status of that time and luckily as I have paid payment through cheque I got the payment details , I then I have approached bank to close it.

    Now when SCB have check the entire case they have accepted the same and agreed to close but they said it will be updated to CIBIL with remarks ” settlement ” , Further they have also said to arranged
    to amend the Date Past Due (DPD) status of your aforesaid Card account for the Yr 2007 to till date in the records of CIBIL.

    So just want to know that what will be impact of same on mine credit score & shall I accept the mentioned request from bank ?

  61. Dear Ravish, in the given situation, your brother may face some hurdles to get the loan but on the combined income, bank may relax a bit, provided your brother’s score is not same as yours’. 🙂

    Thanks

    Ashal

    1. Ravish kumar says:

      Thanks Ashal 🙂 I think he will not have a credit history at all. He doesn’t own any credit card and there is no loan against him as of now.

  62. Dear Ravish, please file a dispute with CIBIL for updation of the info from the credit card.

    thanks

    Ashal

  63. Sachin says:

    Manish, I have a question here as for how long this status will be in the cibil report, is there a time limit for this. And for a lander for past since how long they will check your report. Thanks.

    1. If not done anything , as remark can be there for 10-20 yrs also , there is no upper limit , but for minimum it will be there for 7 yrs.

      Manish

  64. Prabhakaran

    I am not sure how you can blame the company . How did the settlement happen ? Because you were not ready to or were not able to pay the full amount . What will company do in that case ? They will surely look at getting whatever amount they can . Its better to get PART payment instead of nothing .

    So that settlement just means – “OK , now when you cant pay full , please pay us part payment and we will mark you as defaulter for rest of the amount you didnt pay us and for we swear to god , we will not like to deal with you in future and will kindly keep this record for future also ” . This is what settlement means in credit cards and any kind of loan .

    Think from a lender point of view for 2 min , you will understand everything on your own !

    Manish

    1. Ashish says:

      Dear Manish,

      I have been reading the information in this forum and most of the times, I got to see that in case of low CIBIL Score etc, it is the HSBC credit card that causes the damage to anyone. I have hardly heard anyone saying I had a HDFC / ICICI/ SBI… card and had faced the problem on default / settlement / DPD etc.

      I would say here which should just mean – “OK , now that I have paid you in full, please don’t mark me as defaulter for rest of my life. As you didn’t bother to service your customer in the way you should be and for I swear to god, I will not like to deal with you in future and will kindly keep this record for future also”. This is what we should be saying to HSBC credit cards and any kind of any banking with this bank.

      Ashish

  65. bemoneyaware says:

    Quoting from our article FAQ on CIBIL CIR Report and Score
    WO is “Written-Off”. Both Settled and Written-Off are considered as the negative factors in your loan approval. Contact the lender, show your report to the lender and get it rectified in your report. If the demand is genuine, then try to pay it off and get the report updated.

    Settlement of loan will NOT clear your name in CIBIL report. In fact its a negative sign. It shows that you took loan, happily used it, ballooned it with late charges/interest by not paying on time and finally bank in frustration said – “Fine… Let’s take whatever we can get out of this guy, if we don’t get some part right now, we will not get even a penny later”. Loan settlement is a negative thing, and banks will report this incident to CIBIL and mind you, your status will be marked as “Settled” for next 7 yrs.If you have done any kind of loan settlement in past, first check your credit report and see what is your score. If its low (lower than 750) , you will seriously face getting any kind of loan in future.

  66. Bond Bhai says:

    Prabhakaran, Sorry that your are in such a situation. But, blaming the company for the mistake that we do by not reading the terms and conditions will not help. If you are getting into a relatively “complex” product such as credit cards etc, you need to be fully aware of the T&C. Only when you are satisfied, get into the contract.
    As for your problem, the only thing you can do is,
    1. clear the dues.
    2. Get a “Written Confirmation” that your dues are cleared. Do not leave them until you have this confirmation.
    3. Also make sure that they send the update to CIBIL with the latest situation. The updates might not immediate, it might even take 2-3months for it to appear. Keep checking with them until its done.
    4. If you think the bank/CC institution is not doing much, file a written complaint with the nodal officer of the bank. Attach the relevant proofs (like No objection certificate etc)
    5. If you have not received NOC, attach the proof of you having made the request to the bank to provide you with the settlement letter and closing the loan account. Also, attach the proof that the payment was made towards the final settlement.
    6. Raise a dispute with the CIBIL, along with all the proofs (NOC, your payment settlement, mails to the bank etc). They will check with their data and update if applicable.

    1. Prabhakaran V says:

      Thank you Mr. Bond Bai,

      I will take action as suggested by you. Let me get in touvh with HSBC.

      Thank you once again

  67. Prabhakaran V says:

    Dear Mr. Manish,

    Thank you very much for the answer. But here M/s HSBC has agrred to settle my dues with a reduced amount due to the particular situation prevalent then. They are also equally responsible for the developments that lead to the settlement. Most of our citizen are not aware about the credit card terms fully and get trapped. When they came forward with a settlement proposal and issued a clearance certificate, they are not morally entitled to put such objections in the credit report. However, to get in touch with them and to get the remarks cleared, to whom shall I approach. Kindly let me know.

    regards

    Prabhakaran V

  68. Obviously it will . Just imagine how the lender will look at it, the best way is to imagine yourself as lender and some one is asking you to lend him money, but his report says “SETTLED” , which means HE DID NOT PAY FULL AMOUNT .

    Will you lend ? NO !

    The only solution is to pay back the full outstanding amount now and ask your past lender to update the CIBIL with your new status as CLEARED . And over next few months , watch your score and report and then apply for loan , not before that .

    Manish

    1. Ravish kumar says:

      Hello Manish Ji,

      I had a HSBC credit card which expired in Mar 2012. I made last payment for that card in Jan 2011 assuming that there is nothing due (but actually there was some amount due). After that I relocated to another place and changed my number. So there was no communication to me about due amounts. Last year (around Aug 2012 ) I applied for a personal loan with HDFC, which was rejected when I asked the reason for same, they told that I have bad credit score.

      After some googling I decided to fetch my CIBIL credit report and I came to know about the pending dues on the credit card. Then I called up the bank and payed all my dues 2 months. Bank has issued an NOC also for the same and they are saying that they have passed that info to CIBIL also and ensured it doesn’t come under the settled category as I have payed full amount. My credit score that time was 769.

      Now I am planning to apply for a home loan through SBI. Will it be a hurdle in loan process approval ? Or should I wait for some more time to go for loan ? If the data is not updated with CIBIL will the bank accept the NOC from the bank ?

      Thanks,
      Ravish

      1. Ravish kumar says:

        Sorry there is a correction its Jan 2012 instead of Jan 2011

        1. Ashish says:

          Dear Ravish,

          If you have the NOC issued by the bank, saying all dues have been cleared and there is nothing pending, you can get a loan. But as Dear Ashal has suggested file dispute with CIBIL and wait for 2-3 months to get it rectified.

          I had the same experience about 3 years back and credit card in question was issued by HSBC. I got the NOC issued by HSBC and applied for loan with HDFC, while submitting the application I informed HDFC about the HSBC story. Later on, HDFC asked for the NOC and cleared my loan.

          Ashish

          1. Ravish kumar says:

            Thanks Ashish, since I am going to SBI and I think they are more strict about these things so I was quite worried.

            As Ashal suggested I will do a double check by filing dispute with CIBIL to update with latest info.

            Thanks,
            Ravish

    2. Ravish kumar says:

      Dear Manish,

      What happens if suppose I have some issues in credit report and I am acting as a co-borrower for a loan. Situation is like that me and my brother want to invest in a property.
      My take home salary is around 65K/month and my brother is earning 42K/month. So in this case suppose I have a some trouble with CIBIL and my brother apply for a house loan taking me as a co borrower. Will he face any problem in getting loan ?

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