Accidentally messed up my credit score, what can I do now ?

[Sahilhenzy]

No it doesnt. I know friends who have Infinia / M4B / Amex Plat which were issued even after having late payment remarks (some payments missed due to travel / sickness etc). Life happens and not all late payments are defaults. Also no bank will remove late payment remark unless its their error - only account will be marked as closed and balance as 0. Issue will happen if your account is marked as "settled"

The late payment remark will at most have impact for next 2-3 months unless there is some other issue.

Who is talking about banks here? Aditya Birla Finance is NBFC which can easily remove late payment remark if they want.

Late payment remark will have a impact on his account for lifetime if it's doesn't get removed.

Yes, I am do accept the major bank will approve his application later but that will take few more years until his has good payments records

 

[Dr.doom]

Its difficult to confirm based on above. You need to download full CIBIL report. Check in the pdf - seems your account is marked as "settled" as there are no dues after Sep 2023. If its marked as settled then you need to raise request to get it cleared asap as that will have sever impact as it basically means bank has written off your loan and marked you as defaulter.

It's showing like this can you see and tell ? I don't know much about this stuff so don't know if it's settled or not.

 

[Vasuki]

No it doesnt. I know friends who have Infinia / M4B / Amex Plat which were issued even after having late payment remarks (some payments missed due to travel / sickness etc). Life happens and not all late payments are defaults. Also no bank will remove late payment remark unless its their error - only account will be marked as closed and balance as 0. Issue will happen if your account is marked as "settled"

The late payment remark will at most have impact for next 2-3 months unless there is some other issue.

My relative had same issue with Paytm .. he paid removed the mark . Got it closed
Got loan from sbi offline...
So yes

 

[Sahilhenzy]

What are trying to imply
Rn he is 700 score what do u want him do other than fd card

A small loan can definitely going to help him. I have experience so I can say better.

 

[Vasuki]

A small loan can definitely going to help him. I have experience so I can say better.

He already have Amazon pay later

 

[Dr.doom]

That late payment remark will give trouble in future for sure. Yes score will recover but as per the banks policies score only doesn't matter. Which matters is On time Payments. Bank can easily reject the applications.

But yeah they will give the cards or loan in future if the customer holds a record of 5y timely payments or maybe 10y who knows.

So will it stay on my cibil score record forever? Is there no way to remove it ? If there is then please help me out by pointing in right direction.

 

[Sahilhenzy]

He already have Amazon pay later

Don't you know BNPL have bad impact on credit reports? That's why I told you are a new to this field.

 

[Sahilhenzy]

So will it stay on my cibil score record forever? Is there no way to remove it ? If there is then please help me out by pointing in right direction.

The lender can remove it you can request them till their PNO. Most probably they will remove. But banks will never ever gonna remove if reported.

 

[Vasuki]

So will it stay on my cibil score record forever? Is there no way to remove it ? If there is then please help me out by pointing in right direction.

No they won't remove .
Because it was due & for too long

Just take fd card in service area of kotak .

 

[Vasuki]

The lender can remove it you can request them till their PNO. Most probably they will remove. But banks will never ever gonna remove if reported.

No they won't tried 2 year ago

 

[Sahilhenzy]

No they won't remove .
Because it was due & for too long

Just take fd card in service area of kotak .

Are yar try karne mein kya jaata hai? Paisa lagta hai kya isme? FD FD kar rahe ho woh theek hai usko side kro woh toh le hi lega banda

 

[shashankrt]

My relative had same issue with Paytm .. he paid removed the mark . Got it closed
Got loan from sbi offline...
So yes

There seems to be confusion between "Settled" and "Late Payment".
Late Payment is when payment was made late and it will continue to appear similar to OP screenshot under payment history even after payment. That will never go away.
Settled is when bank marks the loan as written off - meaning bank has let go the principal and this means customer default (similar to NPA)

 

[Vasuki]

There seems to be confusion between "Settled" and "Late Payment".
Late Payment is when payment was made late and it will continue to appear similar to OP screenshot under payment history even after payment. That will never go away.
Settled is when bank marks the loan as written off - meaning bank has let go the principal and this means customer default (similar to NPA)

Thing is there was 1400 not counted in last bill & Paytm postpaid got closed
Relative new about it thinking free 1400 rs
But
Paytm reported as late payment..
They realised it untill they went to take loan from sbi
So same happened here
Even though account got closed but 200 which was not billed got as late payment

 

[shashankrt]

It's showing like this can you see and tell ? I don't know much about this stuff so don't know if it's settled or not.

Something is not right. Aditya Birla has marked payment as 0 from Sep 2023 onwards. Also there is no settlement remark. If you have paid this month then till last month it should have mentioned some number under payment status. Please speak to Aditya Birla support asap and get everything on email

 

[Vasuki]

Something is not right. Aditya Birla has marked payment as 0 from Sep 2023 onwards. Also there is no settlement remark. If you have paid this month then till last month it should have mentioned some number under payment status. Please speak to Aditya Birla support asap and get everything on email

I have explained above hope u get the confusion settled

 

[Sahilhenzy]

abhi kuch bolunga toh vivad ho jayega,😂

 

[Vasuki]

abhi kuch bolunga toh vivad ho jayega,😂

Election m vivad hoga he

 

[shashankrt]

I have explained above hope u get the confusion settled

Arre my question is why is his payment status showing 0 from Sep 2023? Shouldn't it be 360+ something. Why suddenly payment status is 0. It means internally they have marked account as settled. Few years ago it used to appear on CIBIL (I know because I had one thanks to Rs 100 which SBI charged me for something and did not even notify me to pay!)
After I paid Rs 100, SBI just removed settled remark and the payment status was unchanged.

 

[shashankrt]

abhi kuch bolunga toh vivad ho jayega,😂

Naa its ok to have different opinions - also CIBIL reporting keeps changing and we as consumers are not always notified of changes in CIBIL reporting process for banks 😉

 

[Vasuki]

Arre my question is why is his payment status showing 0 from Sep 2023? Shouldn't it be 360+ something. Why suddenly payment status is 0. It means internally they have marked account as settled. Few years ago it used to appear on CIBIL (I know because I had one thanks to Rs 100 which SBI charged me for something and did not even notify me to pay!)
After I paid Rs 100, SBI just removed settled remark and the payment status was unchanged.

@Dr.doom when did u cleared the Paytm due