Hi everyone,
I need guidance regarding an old credit card issue. Back in 2010, I got an HDFC Bank credit card with the help of my brother. I used it responsibly for the first few years, paying dues on time. However, due to financial difficulties and personal problems, I defaulted on payments around 2013-2014.
Fast forward to now—after many years, my financial situation has stabilized, and I genuinely want to clear my pending dues. However, I’m also curious if restructuring the debt could be an option. I haven’t been in contact with the bank about this for a long time, and I’m not sure how to approach them or what the process would look like.
Could anyone advise me on the following:
Thank you in advance!
I need guidance regarding an old credit card issue. Back in 2010, I got an HDFC Bank credit card with the help of my brother. I used it responsibly for the first few years, paying dues on time. However, due to financial difficulties and personal problems, I defaulted on payments around 2013-2014.
Fast forward to now—after many years, my financial situation has stabilized, and I genuinely want to clear my pending dues. However, I’m also curious if restructuring the debt could be an option. I haven’t been in contact with the bank about this for a long time, and I’m not sure how to approach them or what the process would look like.
Could anyone advise me on the following:
- How should I reach out to the bank to discuss this?
- Are there any specific contacts (email id's or agents etc.,) I should look for?
- Would the bank consider restructuring the dues into manageable EMIs, or is settlement my only option?
- What are the pros and cons of settlement versus restructuring in terms of credit score?
Thank you in advance!
Attachments
