Credit Card Settlement - Requesting Guidelines

[Imran84]

Hi Credit Bhai,

I am defaulter of SCB, my current outstanding 1.28 Lakh, but i used it for 1 lakh, now they agreed to close with 40k, but they are asking me to pay first and then we will issue the settlement letter, i'm fearing about below things,

Please clarify and help me to settle this issue.


1. Why SCB agree for 40k while i used it for 1 lakh?
2. Before making the payment what are the procedure i follow & which is the best way to make payment?
3. If i paid Rs.40k, SCB will remove my name from CIBIL or Written Off  - Please explain the difference?
4. After the payment of Rs.40K, SCB will never ask any more payment.
5. SCB will issue No-Due certificate/Card Closure Letter
6. If i not paid what all the action they can take against me (they can arrest me)?

Your reply will be highly appreciated and helpful to live peaceful life.

Thanks in Advance...

[cardbhai]

I'd suggest you to be an Honest Citizen. SCB runs on Deposits made by thousands of people like me and others. If you default to them, then it is our money and Systemic Collapse. That is why they are so strict and the Big Brother RBI is watching.

Approach them with an honest intent to Pay and I am sure they will give you a Good Deal.

Behave Responsibly with Credit.