Full Settlement after CIBIL report " Written Off"

[gajju]

Hi Credit Bhai,

I used to have HSBC credit card. Bill statements were not coming on time and this was reported to HSBC many times but they continued to send send bills later and charge late fee and finance fee.
After getting frustrated i gave the card and made only payment of the purchases done by me and not late fee or other charges.

These charges were compounded by HSBC and bill became around 7000-7500. Finally getting fed up I paid the full amount. Now HSBC is saying they will report this card to CIBIL as " settled".

Please guide me is this the correct way of reporting it? How will it impact my credibility.

warm regards,
Sanjay

[cardbhai]

1. Write to the Banking Ombudsman of HSBC stating your case step by step and please convey that "Whatever Purchases have been done have always been PAID in FULL" and A/C closed in good Standing. - This establishes Good Intent of being an Honest Credit Card Consumer.

2. Wrong Excessive and Late Billing is unacceptable. Go through "RBI's Master Circular on Credit Card Operations By Banks" and Cite them in your letter
Register your objection of CIBIL Status being reported as "Settled" and seek Ombudsman intervention.

3. If within 30 days the matter is not resolved, file a complaint to RBI.

My apologies for 4 days delayed response.

Best