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HSBC Credit card Settlement issues

 joseh41 on Jul 16, 2011
I had an outstanding due to the credit card few in 2006-07. And based HSBC Bank's settlement offer, I paid the amount to them. Then bank manager assured me that the account statement will be zeroed in after 2 months, and later told me that now it takes upto 6 months. But after many years, i am surprised to know that despite my settlement, the bank keep sending the statements with inflated amounts to my previous address. And when went to the bank to enquire this, they simply says, this is a lapse from the bank and it didin;t some how not been zeroed in, but you don't worry as bank is aware that this account need not pay anything more, but will reflect on CIBIL reports. I was shocked to know that and now it affected me a lot while I try for a Home Loan. HSBC's local branch manager advice me to take another settlement to waive off the complete amount now and to get fresh no due letter from bank. To me this is like a comedy, making us look like fools. HSBC Bank knows I does not need to pay anything now, but still won't take initiative to correct the reports send to CIBIL. Anyone faced similar issues? Tell me if you have a suggestion to get rid of it? Wants to know who will be the right person above Regional managers to talk to? mail to [protected]@hotmail.com
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Answers

Hi jose,

Its a common issue in credit card payment. in the first place have a cleared your credit card payment or settled. If you have settled you should pay the remaining outstanding to make your CIBIL record fine.

If you have cleared the total outstanding, you can demand respective bank to give fresh no due letter .
you should ask them to update the same in CIBIL records as earliest.

Remember SETTLED is not equal to CLEARED.
Take the Matter to Consumer forum against HSBC and CIBIL for defamation.. and sue them for the amount twice of the Home loan you are going to take. that shoud teach the jokers a lesson...
Also inform all your friends who are using credit cards as to what has happened so that they will beware of dealing with HSBC...

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