Credit card written iff

Your inability to pay or business loss does not shred your liability to repay the amount. Let the Bank to file suit for recovery where you shall have opportunity to negotiate on principal amount for settlement.

Your inability to pay or business loss does not shred your liability to repay the amount. Let the Bank to file suit for recovery where you shall have opportunity to negotiate on principal amount for settlement.

As per your post:

-’Date of Last Payment 22-09-2009 Date Closed - Date Reported & Certified 31-12-2016’

The default is reported is reported after 7 years of Date of Last Payment 22-09-2009.

Written off is adverse entry and shall affect your credibility.

-DEFAULT STATUS: Suit Filed/Willful Default

Clear entry is not mentioned.

You would be aware if any suit was filed.

CC companies are known to file in, Credit Camps Special Lok Adalats for which you alone would know if any notice was supplied to you.

NO lender may advance any loan to you.

If you have not acknowledged debt since 7years then it might be hopelessly time barred.

Until or unless you are able to prove any deficiency/delinquency on CC Company you may not get relief from regulator e.g; RBI, BO or courts of law e.g; DCDRF.

 

It is your discretion:

- to negotiate with lender t pay in full and settle your T&C in writing that IT shall call back your name from list of defaulters in style and manner your loan taking ability shall not be affected..

-engage into settlement. Settlement is adverse entry.

If you can settle your T&C in writing that IT shall call back your name from list of defaulters in style and manner your loan taking ability shall not be affected..

 

Lender may not easily agree on it.

YOU CONTACT YOUR BRANCH MANAGER ASK ONE TIME SETTLEMENT (OTS) .  YOUR LOAN CAN NOW READY TO BUY SBI., IDBI BANK AND GIVES YOU 20% REDUCTION.   OR SETTLE WITH BM  PERSONALLY  50% :  50%.  1ST KNOW MONEY MAKES MENY THINGS.