credit repair How to remove Credit Card Defaulter's name from CIBIL Report

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Cibil credit card amounts write off is a condition, which happens after continuous 180 days of default of your credit card dues. Banks write offs your credit card account if you do not make the payment, which is due on your card for 6 months.

However, you will still keep on receiving calls from the collection agency but the account is written is a write off account. It indicates the bad history of a bo! rrower and it stays in your credit report for 7 years acc! ording t o the rules.

*Credit Card Default - Costs 7 year punishment

Here is how you can remove a credit card write off from your cibil report:

• Well, a write off stays in your credit report for 7 years; but the banks have the power to upgrade any debt three times every seven years and this means that it can actually stay in your credit report for complete 21 years. But there is a way out to this and one can improve his/her cibil report by getting rid of this.

*Credit Default Settlement - Step by Step Guide

• The moment you figure that you have a write off account in your c! redit report, you must immediately contact your lender. Your l! ender wo uld surely help you if you are showing interest in making the payment and would not treat you badly or as a bad customer. Get the total amount due on you r card calculated with the help of your lender.
• You may require presenting the last monthly bill statements received and some other details of your credit card. Follow the instructions and give proper details needed. Your bank will now give the exact figure of amount that you owe to the bank.
• Pay this amount and get a no due certificate or payment receipt from your lender. The process is not over yet. You will now have to call up your bank again and request them to update about the full and final payment to the credit bureau. You bank will now update this to cibil and within a span of 40 days, the write off will get cleared from your cibil report and the account would be shown as a normal closed account.
• You can contact Cibil directly also, if your bank! does not co operate in updating the status to cibil and tell ! them abo ut your settlement by showing the payment receipt. After some clarifications and enquiries from the lender, the credit bureau will update the same in your report and your report will be clean.

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