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Date : Jul 21, 2008 Question I had two Credit Cards one from Standard Chartered and other one from HDFC. On both card, there are outstandings for few hundreds. Spoke with Bank and repiled, once I clear all my dues, my name will be removed from defaulters list. Is it so?? Also, not sure whether or not my record is there in CIBIL system for the mistake I did.. (didn't cleared my outsatnding with Banks). If it exists, how can i know, my current status?? Also, advice me to get my name removed from bad payment history. Answer
If your name is reported as a defaulter in cibil you cannot remove it. Your default stays on the credit bureaus record for 7 years, so you will always face an issue in getting a loan even after clearing off your default. Still we advise you to pay the entire outstanding dues. If you make the full payment now you will be able explain the genuinety of the reasons why the default happened and have some chances of getting loans or credit cards at decent terms in future. If bank says after payment of due they would remove your name from cibil defaulter list then ask them to give in writing. As merely saying does not have any legal standing. And if you want to how to check whether your name is reported as a defaulter, click on credit report to know.
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