[Resolved]  Shaha Finlease — Malpractice by Shaha Finlease pvt ltd

Address:

Bangalore, Karnataka

I have been writing for years now on the outstanding that is being displayed on my account by SCB / Shaha Fin lease over the years. Member Name: SHAHA Account Number: [protected]. This credit card was settled and closed in Dec 2009 vide part payments made against the same in 3 installments. cheque nos. 819867, 819868, 819869 dated 20/10/09, 20/11/09, 20/12/09 and amount Rs.20, 000/-, Rs.16, 000/- & Rs.10, 000/- were paid respectively. I was issued a settlement letter from Standard Chartered Bank. However Shaha Finlease has been increasingly reflecting wrong dues in my CIBIL account. They are supposed to show zero outstanding but have been cheating the customers with such malpractices. I have closed this account way back in 2009 however the same is still being reflected with the oustanding amount being increased over the periods.. Attached one of the online dispute i had raised (D[protected] in Aug 2012 against this issue. I have never received any response from you. 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procedure should also cover the notice period for such reporting as also the period within which such report will be withdrawn in the event the customer settles his dues after having been reported as defaulter.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 and impacting my credit score over the last 5 years. This would be my last try to contact you for rectifying the mistake you have made which has been impacting my credit score since last 5 years. If you do not respond to my issue and rectify the account settlement details in the systems, i will be forced to file a legal complaint against your organization for the malpractice and claim for compensation for impacting my credit score for last 5 years. I hope you would direct this email to the senior leader in your organization.