Advice Needed: Incorrect CIBIL Reporting & Unresponsive Loan Agency Despite Unnecessary Payment

[saver-user]

i wrote this using chat gpt as i have all the history regarding this stored there right now i am applying ffor home loan and credit cards but this issue is arisingHello everyone,

I’m dealing with an ongoing problem with a loan account that was initially with Axio and later managed by Asset Care Financial Services. Despite proving that I didn’t owe them anything, I ended up paying the principal just to settle the matter—but it’s still causing issues. Here’s a breakdown:

1. Background with Axio (Original Loan Holder):
   In 2023, I fully repaid a small loan with Axio. However, they falsely recorded three transactions totaling around ₹3064 in June 2023. I repeatedly tried to get clarification, but Axio didn’t respond, and I assumed the account was settled.
2. Transfer to Asset Care (Current Loan Holder):
   In 2024, Asset Care acquired the account from Axio and began claiming I still had an outstanding balance due to Axio’s false transactions. I had proof from my Amazon Pay Later statements that these charges were incorrect. However, to expedite the account closure and avoid further issues, I reluctantly paid ₹3960 on 11th October 2024 to clear what was noted as the “principal.” Asset Care issued me a No Objection Certificate (NOC), but they’ve since failed to remove the false late fees from my credit report.
3. Current Problems:
   
   • False Late Fees Persist on CIBIL Report: The erroneous late charges from Axio remain on my credit report, unfairly affecting my score. Despite clearing the account—even though I didn’t owe them—I’m still being penalized.
   • Complete Lack of Communication from Asset Care: None of Asset Care’s customer service numbers work, and emails go unanswered. They’ve ignored my requests to remove the false late fees and refund the unnecessary payment.
   • CIBIL’s Limited Support: CIBIL has been unhelpful in resolving this. Despite multiple dispute submissions, Asset Care falsely claimed I didn’t pay. CIBIL’s character limit for complaints makes it difficult to provide detailed explanations.
4. Credit Score Impact:
   My credit score has dropped from 770+ due to these errors, which unfairly reflects my creditworthiness and affects my ability to get new credit.

Questions for the Forum:

• Has anyone faced a similar situation with Asset Care or Axio? If so, how did you resolve it?
• Should I take this issue to the RBI Ombudsman, or would legal action be the best approach to ensure they correct my credit report and issue a refund? and time is also a issue here as my home loan is getting affected by this
• Any advice on managing CIBIL disputes for complex cases like this?

I’ve provided clear evidence and even paid off the account when I didn’t owe anything, yet I’m still left with a damaged report and no response. Any guidance on next steps would be greatly appreciated. Thank you in advance!

 

[newinnov]

I’m dealing with an ongoing problem with a loan account that was initially with Axio and later managed by Asset Care Financial Services. Despite proving that I didn’t owe them anything, I ended up paying the principal just to settle the matter—but it’s still causing issues. Here’s a breakdown:

1. Background with Axio (Original Loan Holder):
   In 2023, I fully repaid a small loan with Axio. However, they falsely recorded three transactions totaling around ₹3064 in June 2023. I repeatedly tried to get clarification, but Axio didn’t respond, and I assumed the account was settled.
2. Transfer to Asset Care (Current Loan Holder):
   In 2024, Asset Care acquired the account from Axio and began claiming I still had an outstanding balance due to Axio’s false transactions. I had proof from my Amazon Pay Later statements that these charges were incorrect. However, to expedite the account closure and avoid further issues, I reluctantly paid ₹3960 on 11th October 2024 to clear what was noted as the “principal.” Asset Care issued me a No Objection Certificate (NOC), but they’ve since failed to remove the false late fees from my credit report.
3. Current Problems:
   • False Late Fees Persist on CIBIL Report: The erroneous late charges from Axio remain on my credit report, unfairly affecting my score. Despite clearing the account—even though I didn’t owe them—I’m still being penalized.
   • Complete Lack of Communication from Asset Care: None of Asset Care’s customer service numbers work, and emails go unanswered. They’ve ignored my requests to remove the false late fees and refund the unnecessary payment.
   • CIBIL’s Limited Support: CIBIL has been unhelpful in resolving this. Despite multiple dispute submissions, Asset Care falsely claimed I didn’t pay. CIBIL’s character limit for complaints makes it difficult to provide detailed explanations.
4. Credit Score Impact:
   My credit score has dropped from 770+ due to these errors, which unfairly reflects my creditworthiness and affects my ability to get new credit.

Questions for the Forum:

• Has anyone faced a similar situation with Asset Care or Axio? If so, how did you resolve it?
• Should I take this issue to the RBI Ombudsman, or would legal action be the best approach to ensure they correct my credit report and issue a refund? and time is also a issue here as my home loan is getting affected by this
• Any advice on managing CIBIL disputes for complex cases like this?

I’ve provided clear evidence and even paid off the account when I didn’t owe anything, yet I’m still left with a damaged report and no response. Any guidance on next steps would be greatly appreciated. Thank you in advance!

Raise a complaint in RBI and consumer portal.

 

[saver-user]

Raise a complaint in RBI and consumer portal.

rbi will take forever bro T_T