CIBIL late payment entry issue

40 point ke liye itna stress lena theek hai? @guest_999

kukdookoo wrote:
40 point ke liye itna stress lena theek hai? @guest_999

his cibil was 772... now its 732, might go down again next month... just want to know if there is a way to make banks reverse this entry because he has paid full amount within 2 weeks...

Yes. you can request the bank to reverse it. Since he has always been paying his bills on time and has a genuine reason, it can be reversed.

I have been trying with axis bank since 6 month. Paid part payment of my Personal Loan, later realized that they charge 4% of existing principal amount, so immediately contact Indus Ind bank to stop the cheque payment.  Axis Bank put penalties for that and i have amount in my account but they dint deduct instead they reported 5 days late payment to CIBIL and score down with 12 points. 

prithvirao17 wrote:

Yes. you can request the bank to reverse it. Since he has always been paying his bills on time and has a genuine reason, it can be reversed.

both banks... icici and sbi refused to reverse the entry, this was the first time in 15 months he missed a payment still banks rejected the request... i hope there is a ombudsman way to make banks do it but unable to find rbi rules about such incidents.

Cibil scores might become issue of Heart attack in future the way they are being glorified 

aniket1587 wrote:

both banks... icici and sbi refused to reverse the entry, this was the first time in 15 months he missed a payment still banks rejected the request... i hope there is a ombudsman way to make banks do it but unable to find rbi rules about such incidents.

They won't remove DPDs until unless, if it's their mistake..

Just leave it...2, 3 late payments doesn't have much impact in the long run..

aniket1587 wrote:

both banks... icici and sbi refused to reverse the entry, this was the first time in 15 months he missed a payment still banks rejected the request... i hope there is a ombudsman way to make banks do it but unable to find rbi rules about such incidents.

RBI does allow for upto 3 days late payment but after that its all in hands of the bank  to remove such entries.

Just let it go there is no solution to be had if banks already denied to remove the entry. 

aniket1587 wrote:
his cibil was 772... now its 732, might go down again next month... just want to know if there is a way to make banks reverse this entry because he has paid full amount within 2 weeks...

Don't know paji let @guest_999 reply

yes same happened to me , from 780 odd came down to 740+ icici did not even make any -ve entry but hdfc did and refused to remove it 

Tekk wrote:

They won't remove DPDs until unless, if it's their mistake..

Just leave it...2, 3 late payments doesn't have much impact in the long run..

just came to know that he had missed bank of baroda's due date also but as a goodwill gesture BOB approved his request.

Typically, if a payment is missed or delayed, it may be reported as a late payment on the credit report, which can have a negative impact on the credit score. However, the exact rules and policies can vary between banks and credit bureaus.

If your friend believes there has been an error in the reporting of the late payment, it's advisable for him to follow these steps:

1. Contact the banks: Your friend should first reach out to both SBI and ICICI to discuss the issue. They may be able to provide clarification on why the late payment was reported and whether it can be rectified.
2. Request a written response: Your friend should ask the banks to provide a written response explaining the reason for the late payment reporting and their decision to deny the removal of the entries.
3. Review the credit bureau's dispute resolution process: Your friend can review CIBIL's dispute resolution process to understand the steps he needs to take to dispute the late payment entries on his credit report. This might involve submitting a formal dispute with supporting documents to CIBIL.
4. Contact the Banking Ombudsman: If the issue remains unresolved, your friend can consider contacting the Banking Ombudsman. The Banking Ombudsman is an authority appointed by the RBI to handle customer complaints and grievances against banks.

It's crucial for your friend to gather all relevant documentation, such as payment receipts and medical records, to support his case and increase the chances of a favorable resolution.

RBI allows up to 3 days grace period beyond credit card statement due date. After this it is completely up to bank's discretion whether they report late payment or not. If they do then nothing can be done to reverse it. A drop of 30-40 points can be recovered within a few months though by paying regularly & this time well before due date to have margin in case of some txn failure.

Does amex removes late payment entries from cibil?

Last month I forgot to pay bill, and realized after I got sms from cibil about 12 days delayed