lazypay account closure issue

73°
Chennai Super Kings
anantnitish

Actually I had 2 lazypay accounts.
Last month I asked them to close my account,they did closed my account,but I came to know that it was just deactivation of account.
They didn’t delete my account as there is no option.

They have made one more error,they have added wrong pin code in my address.
I contacted them they told me du to security reasons it can’t be changed.

Btw I still can see the personal loan in my cbil report.

Guys what to do now ?

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Pro Entertainer Pro Entertainer
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CIBIL takes time to update. Raise it through CIBIL

Hotshot Hotshot
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This is the main issue with buy now pay later accounts. I’d suggest you inform them that though they say that the account is closed, it still appears as loan on cibil which should not. If they say it’ll take 60-90 days request for NOC. If they deny saying that it can only be deactivate and not close (like in case of slice) be prepared. Tweet them, speak with customer care and clearly say that when services are not being used and account is deactivated they cannot keep it as open on cibil .

Chennai Super Kings Chennai Super Kings
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Fanil wrote:

This is the main issue with buy now pay later accounts. I’d suggest you inform them that though they say that the account is closed, it still appears as loan on cibil which should not. If they say it’ll take 60-90 days request for NOC. If they deny saying that it can only be deactivate and not close (like in case of slice) be prepared. Tweet them, speak with customer care and clearly say that when services are not being used and account is deactivated they cannot keep it as open on cibil .

Well when I asked them for noc they told me that they don’t provide this.

Hotshot Hotshot
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anantnitish wrote:

Well when I asked them for noc they told me that they don’t provide this.

Then ask them to confirm that it’s closed and not just made inactive. And do inform that you still see it as open on cibil. Either give NOC or get it closed on cibil

Chennai Super Kings Chennai Super Kings
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Fanil wrote:

Then ask them to confirm that it’s closed and not just made inactive. And do inform that you still see it as open on cibil. Either give NOC or get it closed on cibil

This is what I got.https://cdn0.desidime.com/attachments/photos/763236/medium/Screenshot_2022-04-29-10-50-48-63_e307a3f9df9f380ebaf106e1dc980bb6.jpg?1651209659

Hotshot Hotshot
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anantnitish wrote:

This is what I got.https://cdn0.desidime.com/attachments/photos/763236/medium/Screenshot_2022-04-29-10-50-48-63_e307a3f9df9f380ebaf106e1dc980bb6.jpg?1651209659

Won’t work.. you have to chase them to close.. deactivate and close are different. You might have to spend some time as these BNPL services do not close the account permanently so easily. Chase them until and unless they confirm that they’ll close the account in cibil.

Hotshot Hotshot
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anantnitish wrote:

This is what I got.https://cdn0.desidime.com/attachments/photos/763236/medium/Screenshot_2022-04-29-10-50-48-63_e307a3f9df9f380ebaf106e1dc980bb6.jpg?1651209659

This is not for lazypay but for slice. Hope this helps -



Deal Newbie Deal Newbie
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Mine vey old deactivated account with them not reported before started showing up in crif as personal loan from Feb 22 (Observed few days back)

I logged in to Lazypay app and activated their new lazypay card, tried 1st txn offer. Txn were failing.

Upon contacting CC they reactivated Lazypay, Txn went through got 500 CB.😄

I may close lazypay again.

Hotshot Hotshot
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Tron wrote:

Mine vey old deactivated account with them not reported before started showing up in crif as personal loan from Feb 22 (Observed few days back)

I logged in to Lazypay app and activated their new lazypay card, tried 1st txn offer. Txn were failing.

Upon contacting CC they reactivated Lazypay, Txn went through got 500 CB.😄

I may close lazypay again.

This is what they do. They refrain from closing. One of the reason might be to show more people are using it. Any way having it open on cibil is always riskier because these BNPL people sometimes add NBFCs and they add another loan of the new NBFC to your account. Also each day it’s open exposes you to the risk of wrong defaults(seen a few cases) affecting cibil badly.

Chennai Super Kings Chennai Super Kings
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This is what I got when I asked them to change the wrong pin code:-
As per our record you have submitted the address where pin code is 816106 while processing the KYC. However we are unable to change or edit the details as this feature is not available with us due to security reasons. For any further concern please write us at [email protected]

I never entered the pin code manually.

Deal Newbie Deal Newbie
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just tell them you want to close the credit line permanently and also write the same to payufinance also..

they will permanently close your credit line and send you noc after closing it

Chennai Super Kings Chennai Super Kings
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BUDHRAJ0 wrote:

just tell them you want to close the credit line permanently and also write the same to payufinance also..

they will permanently close your credit line and send you noc after closing it

They told me that they only provide noc to the express loan customers

Delhi Capitals Delhi Capitals
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I guess complain with RBI, Lazypay is by PayU. PayU being a NBFC comes under RBI regulations. Try complaining with RBI about NOC and account closure.

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