Me ICICI & CIBIL
May 15th, 2009 | 
Author: Once upon a time way back in 2004 I was offered a credit card by ICICI Bank… I’m a big user of the plastic and I use it for my personal needs and also to settle my company bills… My normal use every month was around Rs.80,000/- and I promptly settle my dues on or before the due date…
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Everything was going fine until I got an offer from SBI Bank Card for a 3 month interest free balance transfer… I thought it was an attractive offer and opted to take it up and I received a Cheque from SBI from their Delhi office… Then I promptly presented in ICICI bank 15 days before my due date and received an acknowledgement from ICICI bank…
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Then I was shocked to see my next ICICI statement which had late payment fee, Interest and service tax… On verification I came to know they presented the Cheque 2 days before the due date and the Cheque got realized after 10 days from the date it was presented which was not my mistake…
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I took it to all levels of their Customer Support people with all documents but they didn’t try to solve the issue instead they asked me to repay due which was around Rs.5000/-… After some time they started sending Collection agents for collection and every time I had to show them the acknowledgement slip… Over a point they started disturbing thru phone calls and sending agents to office and to my house… I thought I must take this legally but my friends said paying a lawyer fee for this amount is not a good idea…
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Then during the year 2006 I wanted to purchase a Plot of land by taking a loan and my loan was rejected… Only then I came to know about CIBIL and I was told I was a defaulter… It was then I realized my mistake of not taking ICICI legally… Even at that point I had an opportunity to file a suit but at the cost of forgoing my investment plan… I tried to convince the other bank with all valid receipts and explanation… Even they didn’t accept my genuine case and asked me to settle my dues with ICICI first…
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Then I was forced to make a settlement with ICICI and with the settlement letter I got my loan passed…
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Now a year back I applied for a personal loan which got rejected stating that I was a defaulter… Now even after 2 years of making a settlement CIBIL has not removed my name from their database and in future too I’ve to undergo the irony of my loans getting rejected…
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I was penalized for a mistake of an ICICI employee for presenting my Cheque late and for not taking legal action on time which worries me till date…
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Now there is even more bad news for us… CIBIL is currently available only for Banks & Financial institutions and RBI has given them approval to provide service to other industry verticals like Telecom and Insurance… This means late payments of premiums and telephone / mobile bills will also be added to our credit history…
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CIBIL is definitely a better system but they must evolve themselves quickly fix genuine cases too…
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After a long time with the help of Money Today magazine go an answer to my problem to remove my name from CIBIL… I tried one of their recommendations and it was not effective and must try the second one… They have recommended two options;
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- Request the bank to take note of the changes and report it to CIBIL… (Tried without luck)…
- Get the control number of your credit report from bank, then contact the CIBIL helpdesk (1800-224-225), quote this number and register the error…
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Dear Mr. Anand Nataraj,
Kindly write to us at nodalofficer@icicibank.com with ‘Customer Service issue – credit card’ as the subject line. Request you to provide the relevant details of your credit card along with your full name and contact details.
We will be happy to help you.
Regards,
Nazia Sayeed
Office of the Nodal Officer
ICICI Bank
Dear Nazia,
Thank you very much for your prompt response… Itz nice to get linked with a nodel office… I came to know about duties of a Nodel office when i had grievance with Vodafone and got it solved thru them and i thought that was applicable only for telecom… Nice to know even banks have them… The problem is your any customer service person will not allow to escalate the issue nor they have powers to solve the issue… Also many people are not aware of Nodal officer… Anyways thank you very much…
Now after settling the dues 2 years back what can i expect writing the grievance to you??
Thank you,
Regards,
Anand
Anand,
I read an article recently that public also will be able to view the list of defaulters soon with CIBIL, by paying a fee of Rs. 100. But it might take some time since the plan is yet to be launched.
Pls google and see whether you get any more inputs in this regard.
Bala
Thank you for that input bala… Will try to google it and find if i’m able to get some resource… In the mean time if you come accross some information please share it here…
Hi anand,
I found your post very helpful.
I am also planning to buy a house and applied for a loan with SBI. As is the case, I am also labeled as defaulter in CIBIL (one of the same old stories of credit card).
I have done the settlement with the bank (in my case it’s Standard Chartered), but I am not sure if bank will still release the LOAN. Can you please let me know the procedure you followed while purchasing your plot.
My mail is is piyush.singal@gmail.com
Thanx
-regards,
Piyush
Dear Priyush,
I’d recommend you to contact the nodal officers of Standard Charted for help or you can approach ombudsmen board in this regard. Banks fear if you tell them that you will goto ombudsmen… To know more about ombudsmen check this link
http://www.rbi.org.in/Scripts/FAQView.aspx?Id=24
Unfortunately i didn’t know about nodal officers or ombudsmen when i approached for loan and I was taken for a ride for my ignorance…
Coming to your question… I applied for loan from IDBI and i had to attach the settlement letter from ICICI & an explanation letter which explains why I defaulted along with the loan documents and my loan was processed.
Hope this would be helpful…
Regards,
Anand
Thanks Anand!!
Typically banking ombudsmen will take 2-3 months to listen the case. Actually, I am also in same situation where taking this ombudsmen route would have meant to forget about the house
I have already cleared the due amount in full and submitted the above documents and hoping for the best!!
I am also reading that if your name is in defaulter list, then banks typically give you loans at higher interest. Any idea about this?
In any case, did you follow up your case with ICICI to clear your name from defaulter list in CIBIL?
Thanks
-regards,
Piyush
Hi Nataraj
May i know your email id, i am in such a kind of situation and not aware of how to approach how and where to approach…
i shall contact you personally through email..
Raman
faqroo@yahoo.com is my email id…
Hello Sir,
I am facing a lot of problem regarding which i need some expert guidance.
I Ravinder Kumar Budhiraja and my DOB is 09-10-1981 . I have never take credit card from any bank but when apply a loan from bank bank told me that ur name is in CIBIL .and your a/m is 96270 is pending . But I know that I have never ever receive credit card from any bank .So kindly please let me know that how to know the name of the bank it is and to whome should i contact for ..? I have contacted the CIBIl by sending them lots of Email but I don’t think so that they people are in the mood for giving me any support, they just asking me the money and when I raised the issue at Consumer Court http://www.consumercourt.in/personal-loan/12006-defaulter-list-cibil.html they just told that I have a strong reason to drag the Bank to the Consumer Forum .If any one have any idea or faced such issue in past or facing such issue please contact me I need some help in Removing my name from defaulter list and form a group to fight against such agency who are forcefully taking our hard earned money.
Regards
Ravinder
Dear Ravinder,
My CFO is facing a similar problem like yours. CIBIL has lots of technological issues and lots of Credit Card & PL dues are reported on people who have a clear track record. One issue with CIBIL is they never disclose the name of the Bank who have posted such wrong data. Without knowing the Bank we can’t take them to courts.
Also CIBIL is slow in making decisions and I’m not sure how to take on CIBIL… Kindly keep sharing your experience so that it will be helpful for other readers to know how you have solved or I my CFO solves it. I’ll keep you posted…
Regards,
Anand
Hi anand,
One more source of Bank earning is CIBIL, I visit many forums and found lot of people are facing the same issue, I think we need to file a case against them.
Yep Ravi,
Even yesterday I was having discussion with my CFO & was working ways to take them legally. The thing is CIBIL is a facilitating agency which manages the data given by banks. But the irony is they don’t have a syste / structure to manage grievances. Every time when we reach them they give us a track of the complaint and keep telling that they have informed the bank and they say the bank will get back to us on the same. They are not revealing the name of the bank too…
There must be some commitment on the part of CIBIL to accept our grievance processing when there is no response from the Bank… Yep we have to take them legally but that goes in vein because of our lack of will… When we get our issue solved we dont stick to the issue citing time & other reasons…
If we are committed on taking them legally i can link my CFO inside and we can make a combined effort…
Regards,
Anand
Hello Anand,
I had severe credit cards issues and settled all of them now. Unfortunately i don’t have all of the settlement letter and the credit card number or account number either. I’m planning to take a Home Loan now, will that be a problem.
I know banks never update CIBIL after settlement, they are always behind the money. Once they receive the settlement money, they simply ignore to update CIBIL. So assuming banks didn’t update CIBIL after settlement and the Individual doesn’t have settlement letter, what will be that individual’s situation?
Kindly advice.
Thanks,
Venkatesh
–2
Interestingly i had personal loans as well, which i paid all the EMI’s without fail.
hi,
i need your contact number