Date : 22 Jun, 2009

Question

Hello Mr Harsh, My name is Amit Saxena: I once had a credit card of HSBC, to which i agree i cleared my Dues of around 9000.00 pretty late(reasons to it being the false promises by collection guy to give me settlements), after that day i find all my Credit Card Applications being rejected, i fear my name's on the dreaded list. Now that i have settled all my dues with the bank, is there any way i can get out of that list. Please do advice on the matter. Regards

Answer

You cannot get your name removed from CIBIL's list. Even after you make the payments, your name will remain on the list for around 7 years. Approach CIBIL to get a copy of your credit report. This right is given to you by Credit Information Companies Regulation Act, 2005. Make the request officially in writing and get an acknowledgement. Details: CREDIT INFORMATION BUREAU (INDIA) LIMITED, Hoechst House, 6th Floor, 193 Backbay Reclamation, Nariman Point, Mumbai 400021. Call: +91-2266384600/22817788, fax:+91-22 66384666, email:info@cibil. The report will outline what exactly is reported by the bank in respect to your credit account and enable you to take action. CIBIL is a credit bureau and not a bureau that maintains a list of defaulters only. It will necessarily disclose the facts regarding your credit history, like delayed payments in the past, dues settled without write-offs on the part of the bank. All potential lenders will have access to this information.