Removing settlement from CIBIL

[JustinCase]

I had settled a loan in past and it's showing settled in CIBIL. How can I remove that from my report?

 

[Tejo]

Mostly probably they won't as per current rbi rules.

But you can do so, if bank/nbfc have no objection, take a written note duly signed and stamped one and dispute with cibil. The settlement loan should be past one ... >1year.

 

[Manav24]

I had settled a loan in past and it's showing settled in CIBIL. How can I remove that from my report?

It cannot be removed afaik, it stays in record for atleast 7 year.

 

[lijov]

It cannot be removed afaik, it stays in record for atleast 7 year.

I think it might stay there even after 7 years

 

[Manav24]

Yeah 7 year is right.

 

[Riya]

I had settled a loan in past and it's showing settled in CIBIL. How can I remove that from my report?

why would the concerned financial institute remove the delinquent account from the credit report?
Isn't it the sole reason why our score drops???
As per my knowledge, the impact of an account remains for 7 years

 

[JustinCase]

why would the concerned financial institute remove the delinquent account from the credit report?
Isn't it the sole reason why our score drops???
As per my knowledge, the impact of an account remains for 7 years

All I'm asking now is, can it be removed if I contact the lender and pay?

 

[lijov]

I think it would still be there in the credit report even after 7 years, but would no longer have an impact on your credit score after 7 years. But it never goes away. Correct me if I am wrong.

 

[Riya]

All I'm asking now is, can it be removed if I contact the lender and pay?

I am pretty sure they won't...
In the payment chart, they'll show the number of accounts you have settled in that category.... but payment history definitely won't be 100%

 

[Survivor35]

curious question,does it apply same for 180 DPD in cibil. Ideally post 3 years ,the score should be up incase we dont have any deliquencies.

 

[shashankrt]

All I'm asking now is, can it be removed if I contact the lender and pay?

Yes you can. Depends on magnitude and your relations with lender. Happened with me where SBI unilaterally settled some outstanding form some card (which I was not aware as the card was closed) and marked settled on CIBIL. I just paid 100 against that card and emailed SBI and the entry was removed. This was few years ago - not sure if anything has changed now