Standard Chartered CIBIL report issue

POSTED BY gaganup ON June 17, 2014 8:42 am ONE COMMENT

Need expert help here please.

I had a credit card with Standard chartered bank in Bangalore. I have paid all dues (card was only used for filling petrol in my bike ) before leaving Bangalore/India in 2006 .

Now in my CIBIL report the bank – SC is reporting an outstanding balance of 1.5 lakhs and account status is “Written Off” . I have not made any purchases and have not contacted  the bank yet to understand  . I don’t want to invite UN-necessary call harassment from bank once I initiate any discussion.

Can some one suggest what kind of rights a consumer has here . How can I challenge the bank via a third legal financial agency (if any) .

Thanks.

One reply on this article “Standard Chartered CIBIL report issue”

  1. Credexpert says:

    Dear Sir,

    Firstly, please make sure that you had paid all your dues – the amount swiped on the credit card and ALL other charges (interest, fees etc.), if any and also that the card was “closed” and the same was intimated to the bank.

    You should check with the bank as to the details of the outstanding balance reported – the amount of Rs. 1.5 lakhs is most likely a small amount which has ballooned over the years. If the credit card was not duly closed, this outstanding amount may be a result of annual charges or fees levied by the bank and the same is being reported to CIBIL.

    In case, all these dues were cleared and closed, and the same has been given to by the bank in writing by way of a “No dues certificate” or a “No objection certificate” – you can raise a dispute with CIBIL by showing the relevant documents and request the removal of the “written off” status and outstanding balance.

    Regards,
    Credexpert
    http://www.credexpert.in

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