https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9282122
kukdookoo
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40 point ke liye itna stress lena theek hai? @guest_999
CIBIL late payment entry issue
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a close friend of mine was hospitalized in february due hepatitis, he had 2 credit cards SBI and ICICI, he was using them since over 15 months, he always paid bills on time, but he missed february bill due date and he fully paid both bills approx 10-15 days later after discharge from hospital.
when he checked his cibil report this month, both banks have reported february as late payment and his cibil has took a 40 point hit. he wrote to both banks for removal of entries but got denied.
does any fellow dimer know RBI rule about late payment reports to CIBIL? should he write to ombudsman??
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https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9282134
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...
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https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9282143
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.
https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9282174
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.
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https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9282146
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.
https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9282206
Cibil scores might become issue of Heart attack in future the way they are being glorified
https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9282273
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
https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9283090
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:
- 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.
- 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.
- 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.
- 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.
https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9284986
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.
https://www.desidime.com/discussions/cibil-late-payment-entry-issue?page=1#post_9289549
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
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