Hello, this is
This is Nithin and I have a credit card from axis bank which limit is Rs.40000 and they have given me loan worth Rs.1,56,000 upon credit card . I took a loan on last year Nov-2015. So till now iIdidn’t make single payment and in march-2016 that amount goes up Rs.3,10,000 with interest rate and late fee. Again in May -2016, they reversed all late fee and interest rate. I didn’t ask them to cutdown amount they did it automatically . Now in my statement reflecting only Rs.2,06,000 principle amount. Bank people are calling me asking for settlement but I asked them for clearance they said ok they asked me to pay Rs.2,06,000 amount which is reflecting on statement. I am ready to pay the amount so after I made the payment do they change my CIBIL status from written off to clear (or) settle . Actually, they have come up with settlement 1 lakh also but I am paying principal amount can I trust they do they update my status as closure with no dues?
Along with the payment procedure, you clarify them whether they provide the clearance certificate of loan. If they agree, then you can pay the dues and get the clearance letter from bank. Wait for few months. Apply for CIBIL report. If you found that the loan still showing as waived off, then you can request CIBIL for the change by submitting the clearance letter as proof.