Credit Report Info

[jr001]

Last month I closed a pay later account. Also obtained NOC from them. Today I checked my updated score it's showing the account is closed. But there's also mentioned "Written off Settled Status: Clear existings tatus"
What's the meaning of it can anyone help me understand this. I had no dues with them.
Lender: Amazon apy later via IDfc first bank.

 

[Deleted member 16965]

It means that you have not paid your outstanding loan amount in full and has agreed to pay for settlement amount which was mutually agreed with the pay later company to close the loan account.

 

[jr001]

It means that you have not paid your outstanding loan amount in full and has agreed to pay for settlement amount which was mutually agreed with the pay later company to close the loan account.

But I had no dues with them.

 

[Deleted member 16965]

But I had no dues with them.

Give a complaint to RBI banking Ombudsman against the Pay Later company. Your issue will be resolved within a week. Do provide all supporting proofs in the complaint to strengthen your case.

 

[jr001]

Give a complaint to RBI banking Ombudsman against the Pay Later company. Your issue will be resolved within a week. Do provide all supporting proofs in the complaint to strengthen your case.

Will do so.

Can you tell me these are negetive remarks, right?

 

[Bugs Bunny]

Will do so.

Can you tell me these are negetive remarks, right?

indeed they are negative

 

[Deleted member 16965]

Will do so.

Can you tell me these are negetive remarks, right?

Yes and your CIBIL score will also drop due to this remark + You fill face some difficulties in applying for new loans/credit cards.

 

[jr001]

Yes and your CIBIL score will also drop due to this remark + You fill face some difficulties in applying for new loans/credit cards.

I wonder how can they do this even after providing me the NOC. First they reported a laye payment while closing the account, upon requesting they removed it. Then again made false reporting

 

[Deleted member 16965]

I wonder how can they do this even after providing me the NOC. First they reported a laye payment while closing the account, upon requesting they removed it. Then again made false reporting

This is the reason you should always go for genuine banks for loans/credit cards and avoid any pay later startups.

 

[Deleted member 11974]

First escalate this with your lender idfc saying that I have recei3vd NOC yet my report doesn't reflect it
Then if they don't agree to have it changed go to rbi

 

[jr001]

First escalate this with your lender idfc saying that I have recei3vd NOC yet my report doesn't reflect it
Then if they don't agree to have it changed go to rbi

Thanks. After rasing concern with them I got a call back now. They said a clean /normal closure account will be updated within 7days.

 

[Deleted member 11974]

Thanks. After rasing concern with them I got a call back now. They said a clean /normal closure account will be updated within 7days.

enjoy

 

[jr001]

Today another excutive called me and said it's not a negative remark. It's normal in a closed account. I tried convincing him that it may impact negatively my report but he didn't listen and kept on saying it's normal.

 

[Akashn]

Did you check in CIBIL official website?
I suppose this is Flipkart pay later

 

[jr001]

Did you check in CIBIL official website?
I suppose this is Flipkart pay later

Amazon pay later. Cibil is not updated yet for the account. This is Experian