Write off Status on Credit Cards

POSTED BY Jay Kumar ON May 29, 2013 11:19 pm COMMENTS (2)


I have a serious issue that should have been dealt long ago. I had two credit cards in the past that I stopped paying since 2009 and its shows on my cibil report as write off.

For Citi Bank I owe around 1,65,000 and Axis around 60,000.. Thats a lot of money, now even though I pay it all off will I be able to develop/build a healthy credit. How you do think I should go about my problem, will I be able to eligible for any loans in the future like home loan.

Please advise.

2 replies on this article “Write off Status on Credit Cards”

  1. Dear jay Kumar, please read past discusions in the forum itself for the cases similar to you & act accordingly.



  2. Ashish Garg says:

    Dear Jay,

    Even if you pay all the dues, take a No Dues (NOC) letter from both the banks for your records. Once the payment is full cleared it will take some time to reflect in CIBIL report and thereafter your score may start moving in positive direction.

    I would suggest, after clearing your dues, wait for some time and then check your credit score again. While applying for loan (at a later stage), the loan issuing bank can raise queries about this delayed payment and you can produce your NOC to present your side. But still, offering you loan or not remains with individual financial institution.


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