[Resolved]  Shaha Finlease Pvt Ltd — Illegal Negative Mark in CIBIL

Address:

Maharashtra

Respected Sir,

I had a Credit Card with Standard Chartered Bank in the year 2002 and then I had actually paid it off in the same year. There was since then no contact from Standard Chartered Bank till 2010. I got a call from one Shaha Finlease claiming that they have purchased my account from Standard Chartered Bank and they also illegally put a exorbitant amount of % lacks plus on my cibil records. They then insisted that I pay them 15,000rs in three installments and they will update my cibil accordingly and close this case for good. I have paid them the account but they have failed to live up to their promise and have put a settled mark on my cibil records which is viewed as a negative marking by Banks and I have been denied all loans and credit by all banking institutions due to this. They failed to even send me a written or a verbal communication before putting my name in cibil which is breach of the rules set up by RBI. I request you to please look into this matter urgently for me and help me in updating the cibil records accordingly. My Standard Chartered Card no was [protected]. I beg you to please intervene as this is making me get on the verge of a Suicide as I am the only earning member of my family and I have two daughters and need a loan for paying off my hand loans. My Cell no is [protected].

As per the rules of the RBI not a single rule was adhered to by Shaha Finlease while putting my name in CIBIL.

In terms of paragraph 6.2 (c) of the Master Circular on Credit Card Operations of banks(Circular No.DBOD.FSD.BC.6/24.01.011/[protected] dated July 1, 2008), before reporting default status of a Credit card holder to CIBIL or any other Credit Information Company authorized by RBI, banks should ensure that they adhere to a procedure duly approved by their Board including issuing of sufficient notice to such cardholder about the intention to report him/her as defaulter to the Credit Information Company. The procedure should also cover the notice period for such reporting as also the period within which such report will be withdrawn in the event the customer settles his dues after having been reported as defaulter. These procedures should be transparently made known as part of the MITCs. The above instructions are reiterated.

I request you to kindly update the CIBIL records for my account as soon as you get this failing which I shall be forced to take legal action and also file for a Compensation against both the Standard Chartered and Shaha Finlease for not intimating me even once before posting this amount on my name in CIBIL.