Hello Manish,
I recently found out that I had some pending balance from my credit card in 2005. It got exponentially added up and I recently found it when I ordered a CIBIL report. The status was showing as “Written Off” for a balance of 49000rs. I read through your forum and got to know that if we negotiate the money, they would mark as “Settled” which is also not a good thing on the report.
So, I went to the bank and asked for clear status on CIBIL which is not “Written Off” or “Settled”. Then they said they would do a “Null with Nil Dues” if I pay 14000rs as final payment.
Now am confused as, I heard that if we negotiate money they would do “Settled” but now this bank is saying that they will do “NULL” should I suspect something? or its a common practice? Also I am assuming “NULL” status is a all clear status.
Please advice.