Outstanding on closed credit card
2 months ago
I had settled a HSBC credit card sometime in 2004/5. They issued a letter also to that effect. But it is still showing as outstanding. A few years later someone from the bank contacted me and said there is an outstanding. I showed them the letter issued. They sId have to leave the letter with them and the outstanding will be cleared. But it is reflecting in my CIBIL score till date. What should I do.
A.Dear Client,
Foreclosing credit card dues or loans typically does not alter the defaulter status in the borrower's credit records, which can have long-term effects on creditworthiness. Despite this, given the apparent arbitrariness and unfair nature of the Bank's claim after a lengthy 20-year period, you can file a complaint against the Bank. Lodge your complaint through the Reserve Bank of India's grievance redressal portal under the integrated Banking Ombudsman Scheme at https://cms.rbi.org.in for a swift resolution to the issue.
Foreclosing credit card dues or loans typically does not alter the defaulter status in the borrower's credit records, which can have long-term effects on creditworthiness. Despite this, given the apparent arbitrariness and unfair nature of the Bank's claim after a lengthy 20-year period, you can file a complaint against the Bank. Lodge your complaint through the Reserve Bank of India's grievance redressal portal under the integrated Banking Ombudsman Scheme at https://cms.rbi.org.in for a swift resolution to the issue.
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A.Dear Client,
Foreclosure of credit card dues or loans typically does not change the status of the defaulter of debt/loan itself in the CIBIL records of the borrower. The default in repayment of a loan is a stigma in the credit history of the borrower that reduces your credit limit in the future. However, considering the arbitrary and unfair aspect behind the claim made by the Bank after a long 20 years, you may post a complaint against the Bank to the regulatory authority RBI online on its grievance redressal portal under the integrated Banking Ombudsman Scheme at https://cms. rbi.org.in for a quick resolution to the matter.
Foreclosure of credit card dues or loans typically does not change the status of the defaulter of debt/loan itself in the CIBIL records of the borrower. The default in repayment of a loan is a stigma in the credit history of the borrower that reduces your credit limit in the future. However, considering the arbitrary and unfair aspect behind the claim made by the Bank after a long 20 years, you may post a complaint against the Bank to the regulatory authority RBI online on its grievance redressal portal under the integrated Banking Ombudsman Scheme at https://cms. rbi.org.in for a quick resolution to the matter.
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