Regarding Credit Card Default

[Pranav03]

Hello
Dear Bekifaayati Members,

Pranav here, I have an Hdfc Bank Credit Card and I have defaulted it by not paying the dues, because of some financial issue's. But, as I seen on the onescore app, the account status shows as "written-off" My cibil score is drastically fall down to 568 of CIBIL and 526 of EXPERIAN

So, in this case what should I do? I have started earning some money from doing overtime! And I really wanted to fully pay my dues without settling it.

How do I increase the Cibil Score?
As I have some dreams, I wanted to buy a house, but my seeing this cibil score, I am not getting even a ₹1000/- Loan.

I am requested everyone to Kindly guide me, I would be very thankful of you

 

[Kumaresh]

There are hundreds of videos in youtube “ how to improve cibil score “ . Follow those rules

 

[GURUWALKE]

Hello
Dear Bekifaayati Members,

Pranav here, I have an Hdfc Bank Credit Card and I have defaulted it by not paying the dues, because of some financial issue's. But, as I seen on the onescore app, the account status shows as "written-off" My cibil score is drastically fall down to 568 of CIBIL and 526 of EXPERIAN

So, in this case what should I do? I have started earning some money from doing overtime! And I really wanted to fully pay my dues without settling it.

How do I increase the Cibil Score?
As I have some dreams, I wanted to buy a house, but my seeing this cibil score, I am not getting even a ₹1000/- Loan.

I am requested everyone to Kindly guide me, I would be very thankful of you

Try to pay full due as early as possible. Then take fd back Credit Card or gold loan n pay Payment on time to rebuild ur cibil

 

[zacobite]

Hello
Dear Bekifaayati Members,

Pranav here, I have an Hdfc Bank Credit Card and I have defaulted it by not paying the dues, because of some financial issue's. But, as I seen on the onescore app, the account status shows as "written-off" My cibil score is drastically fall down to 568 of CIBIL and 526 of EXPERIAN

So, in this case what should I do? I have started earning some money from doing overtime! And I really wanted to fully pay my dues without settling it.

How do I increase the Cibil Score?
As I have some dreams, I wanted to buy a house, but my seeing this cibil score, I am not getting even a ₹1000/- Loan.

I am requested everyone to Kindly guide me, I would be very thankful of you

written off means you have not paid for many many months and they have classified it as bad debts.. go to bank.. try to repay and see if they will remove this from cibil.. v difficult but not impossible.. they will need full payment not instalments.. get a No dues certificate... then try and get FD backed credit card from your own bank... AND use carefully without default for 2-3 yrs without applying for any other loan or credit card... then u have a chance to regain lost score.. if u default again then xxxxx!!!! it will need patience.. no short cut

 

[imboy]

Contact you card provider and request them you are willing to pay in full negotiate some interest charged by them. Then pay in full whatever the amount is. And request them to remove written-off status from all the bureaus.
Have one FD backed cc use it wisely for one year. Then only your credit score will shoot up. It's a gradual process it can't happen overnight

 

[Pranav03]

There are hundreds of videos in youtube “ how to improve cibil score “ . Follow those rules

Thanks for the suggestion!

 

[Pranav03]

Try to pay full due as early as possible. Then take fd back Credit Card or gold loan n pay Payment on time to rebuild ur cibil

Ok got it, I am arranging/saving money once I get the desired amount to pay, I will pay in one shot! Thanks Man

Do I take the Fd backed credit card from the hdfc itself?

 

[Pranav03]

written off means you have not paid for many many months and they have classified it as bad debts.. go to bank.. try to repay and see if they will remove this from cibil.. v difficult but not impossible.. they will need full payment not instalments.. get a No dues certificate... then try and get FD backed credit card from your own bank... AND use carefully without default for 2-3 yrs without applying for any other loan or credit card... then u have a chance to regain lost score.. if u default again then xxxxx!!!! it will need patience.. no short cut

Yeah, I hadn't paid for 6 months due to some financial issue's! I'll talk with them regarding the issue, thanks for saying that to get the no dues certificate after paying the dues!
Do I take the Fd Backed up CC from the Hdfc itself? or try with other bank's?

Understood and will follow accordingly!
Thanks for the help and suggestion provided!

 

[Pranav03]

Contact you card provider and request them you are willing to pay in full negotiate some interest charged by them. Then pay in full whatever the amount is. And request them to remove written-off status from all the bureaus.
Have one FD backed cc use it wisely for one year. Then only your credit score will shoot up. It's a gradual process it can't happen overnight

Banks and some recovery agents tell me to settle the card by giving huge discounts!
For Eg: My Credit Card bill is 1,00,000/- dues, they are giving me an offer to settle the card/account for 70,000/-
Is it ok to do this? or should I pay the full amount, whatever is dues?

Will close this asap, and try to get an Fd backup Credit Card! Do I take from the Hdfc itself or some other bank's?

Thanks for the help and guidance!

 

[abhimarda]

Banks and some recovery agents tell me to settle the card by giving huge discounts!
For Eg: My Credit Card bill is 1,00,000/- dues, they are giving me an offer to settle the card/account for 70,000/-
Is it ok to do this? or should I pay the full amount, whatever is dues?

Will close this asap, and try to get an Fd backup Credit Card! Do I take from the Hdfc itself or some other bank's?

Thanks for the help and guidance!

Even if you pay 70k and in credit report it will show as "Settled" which again shows that bank made some loss and impacts negatively. Only way is to pay whatever the bank is asking and get the written off stuff removed but it should not come as settled either. Even post that it will take quite some time to rebuild the credit score...I guess more than 3 years would be minimum. But prior to making any payment get a clear agreement what it will show as in credit report.

 

[Pranav03]

Even if you pay 70k and in credit report it will show as "Settled" which again shows that bank made some loss and impacts negatively. Only way is to pay whatever the bank is asking and get the written off stuff removed but it should not come as settled either. Even post that it will take quite some time to rebuild the credit score...I guess more than 3 years would be minimum. But prior to making any payment get a clear agreement what it will show as in credit report.

Ok man, thanks for your suggestion! I have got the point and answer to my question! I really feel happy and my some stress has been disappear!

 

[CApratap]

Hello
Dear Bekifaayati Members,

Pranav here, I have an Hdfc Bank Credit Card and I have defaulted it by not paying the dues, because of some financial issue's. But, as I seen on the onescore app, the account status shows as "written-off" My cibil score is drastically fall down to 568 of CIBIL and 526 of EXPERIAN

So, in this case what should I do? I have started earning some money from doing overtime! And I really wanted to fully pay my dues without settling it.

How do I increase the Cibil Score?
As I have some dreams, I wanted to buy a house, but my seeing this cibil score, I am not getting even a ₹1000/- Loan.

I am requested everyone to Kindly guide me, I would be very thankful of you

1st option is to contact your card provider and try to talk and convert your amount into emi which you can afford.2nd try to negotiate and told them to settelled them as much lower you can.andnever made such mistakes in future with time your CIBIL get improved.

 

[RitamModak]

Hello
Dear Bekifaayati Members,

Pranav here, I have an Hdfc Bank Credit Card and I have defaulted it by not paying the dues, because of some financial issue's. But, as I seen on the onescore app, the account status shows as "written-off" My cibil score is drastically fall down to 568 of CIBIL and 526 of EXPERIAN

So, in this case what should I do? I have started earning some money from doing overtime! And I really wanted to fully pay my dues without settling it.

How do I increase the Cibil Score?
As I have some dreams, I wanted to buy a house, but my seeing this cibil score, I am not getting even a ₹1000/- Loan.

I am requested everyone to Kindly guide me, I would be very thankful of you

The "written-off" status can be resolved by contacting HDFC Bank to repay the full outstanding amount. Once paid, request a No Dues Certificate and ask the bank to update your credit report. You can also raise a dispute with CIBIL and Experian to correct the status.

To rebuild your score, consider using a secured credit card and ensure timely payments. With financial discipline, your score will improve over time, opening doors for future credit opportunities.