[Resolved]  ICICIcredit Card — Credit Card Still not Closed after 6 years of settlement

Dear Pradeep,

I have gone through your details with great interest.Pls allow me to analyse your situation and inform you few things with the following points :

* SETTLEMENT : First of all you should note that there is a standard procedure to settle any account with any credit grantor.Customer has to make an application [ Hard OR soft mode ] ; Based on which Banks at their sole discretion in a special case agree to settle the account and issue a letter of Settlement for the said account with a vailidity period of accepting the payment. In other words you may understand that The respective settlement has to be paid in favour of the disputed account for which the settlement is desired on OR before the date which is mentioned in the letter of settlement issued by the concern Credit Grantor / Bank.On expiry of that particular date ; that this Settlement offer get NULL or VOID and there wont be any value of that.

Now you know better that whether you have followed the same or not ????It appears from your complain that the above mentioned route was not followed.

** Secondly As you mentioned about your CIBIL record.I would again like you to understand that In all kind of Settlement cases, Banks use to incurr huge financial losses ; Hence as per regulator guidelines they reserve the rights to put your details as Negative database to Credit Bureaus such as CIBIL ; which appears as SETTLED.

I dont know much about your case that in what circumtances you had to go for SETTLEMENT with CITI.But to add a salt to your injury ; the STATUS can be changed only by the credit grantor, when they report CIBIL about it.

Hence i would suggest you to write to your bank Sr. officials and ask for the resolution.Chances are there that If there are no transaction in your account; Bank may give you some waiver and may ask you to make the Principal Outstanding.

You may feel free to write me for any further assistance.

Warm Regards,
Kumar Rajneesh
Head
INDIAN CONSULTANT GROUP
A Leading Brand Valuation Legal, Finance & IT Consultancy Firm
[Specialisation in Banking Disputes & Greivances ]
Email : [protected]@indianconsultantgroup.com

'' It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently ''

Hi Pradeep,

We regret the problem caused to you. Please send us your contact details at [protected]@icicibank.com and we shall get in touch with you soon. Kindly refer '2693763 ' in the subject line.

Regards,
ICICI Bank Customer Service Team