Removing ‘settled’ status with NOC after bank has agreed that I don’t owe anything back !

POSTED BY msnayak ON November 28, 2014 9:42 am ONE COMMENT

I have had bad financial history and I want to correct my cibil rating, which stands at 634 now.

I have around 6 loans/CC having ‘settled’ status in my cibil report. I understand the fact that I need to reach out to the bank and pay back the remaining money to have a null status in cibil.

But the problem i’m facing is that, 3 of the banks i have contacted have confirmed to me that i dont owe anything to bank and it is zero balance in their records. they have confirmed they would send me the NOC/No Dues certificate in 2 weeks. [whereas, I remember all 3 were settled with <10k discount]

Now my question is, Can I claim a dispute with cibil with the NOC/No dues certificate given by the bank to remove the settled status? or if there is a better way to deal with this issue.


One reply on this article “Removing ‘settled’ status with NOC after bank has agreed that I don’t owe anything back !”

  1. Credexpert says:

    Dear Sir,

    It would be advisable that you approach the lending institutions and clearly mention that you wish to clear the “Settled” remark from your CIBIL report and hence you are willing to pay the remaining outstanding amount. If they still say that you do not owe anything to them and that they will update your CIBIL status and remove the “Settled” remark, get this confirmation in writing from them.

    Once you get the “No Dues Certificate” (NDC) and the written communication regarding the CIBIL update, you can check your report after a month. If the status of your accounts is yet not updated, you can raise dispute with CIBIL, highlighting the fact that you were communicated by the lending institution that you do not owe them and that you have the NDC from the lending institutions.


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