Wrong payment history reported by bank

[The_Beast]

Hey everyone!
There is a big problem which i am facing. I have an Auto loan from UCO bank. The payment is done via auto debit from my current account in icici. The problem is that UCO bank has reported payments of Jan, feb and march 2022 as overdue and mentioned under SMA(suspect default) in the credit report. However, the bank statement says otherwise. All the payments have been on time. I visited the branch manager and even he was shocked seeing this. He has even given a written letter that all the payments have been on time and i have a large history of 100%on time payments. This error is due to a problem from bank's side.
I have raised dispute in both cibil and experian, but received no reply yet. My cibil score has fallen from 800s to 600s all because of this. Kindly suggest what should i do? Facing big problems due to this. Even when my payments have been on time, false reporting is being done to these credit companies. 😔😔

 

[prc1990]

I had similar problem with sbi. Gave a detailed complaint in https://consumerhelpline.gov.in/

Bank responded. Now awaiting correction in score

Can you please explain your situation? Didn't you go back to internal ombudsman? Or you directly reached out to consumer helpline? Is consumer complaint more effective than banking ombudsman? Kindly share your story.

 

[naviworks]

Can you please explain your situation? Didn't you go back to internal ombudsman? Or you directly reached out to consumer helpline? Is consumer complaint more effective than banking ombudsman? Kindly share your story.

I personally found consumer complaint to be more effective. Because it follows top down approach.. wherin top bank official directs concerned branch manager to rectify the error and report. BM also sincerely follows the direction of his boss.

In my case SBI sent overdue report to cibil but I was paying emis on time. After complaining in the consumer website, the BM apologized and assures cibil will be corrected within next quarter. He also issues a certificate.

 

[prc1990]

I personally found consumer complaint to be more effective. Because it follows top down approach.. wherin top bank official directs concerned branch manager to rectify the error and report. BM also sincerely follows the direction of his boss.

In my case SBI sent overdue report to cibil but I was paying emis on time. After complaining in the consumer website, the BM apologized and assures cibil will be corrected within next quarter. He also issues a certificate.View attachment 1917

Wow fantastic! 🙏

 

[prc1990]

I personally found consumer complaint to be more effective. Because it follows top down approach.. wherin top bank official directs concerned branch manager to rectify the error and report. BM also sincerely follows the direction of his boss.

In my case SBI sent overdue report to cibil but I was paying emis on time. After complaining in the consumer website, the BM apologized and assures cibil will be corrected within next quarter. He also issues a certificate.View attachment 1917

Thanks for sharing!

Did you lodge complaint by calling consumer helpline or through online? What were the set of actions/activities performed post your complaint? Just trying to understand the workflow.

 

[naviworks]

Thanks for sharing!

Did you lodge complaint by calling consumer helpline or through online? What were the set of actions/activities performed post your complaint? Just trying to understand the workflow.

its Simple…just login and give complaint details in the prescribed form of that website. Give as many details as possible including name and contact number of the branch and then relax and go to sleep.

The concerned person/bank manager will call you begging😆 offering solution in a few days and make you feel like a boss…

Not only bank that consumer website also works for various other services…

 

[naviworks]

its Simple…just login and give complaint details in the prescribed form of that website. Give as many details as possible including name and contact number of the branch and then relax and go to sleep.

The concerned person/bank manager will call you begging😆 offering solution in a few days and make you feel like a boss…

Not only bank that consumer website also works for various other services…

Update: Happy to inform that my cibil jumped to 776. All wrong entries have been removed. www.consumerhelpline.gov.in rocks

 

[ashwinkashwink is verified member.]

Update: Happy to inform that my cibil jumped to 776. All wrong entries have been removed. www.consumerhelpline.gov.in rocks

Congratulations.

 

[naviworks]

Now cibil is 802 😃

 

[ARV]

I had similar issue with CLIX capital, bought a phone from airtel and they were the lending partners. I fought with airtel and them for almost 2 years nothing worked, i eventually called 14404 consumer helpline number and lodged a complaint, they sent RBI and they in-turn to nodal officer. The issue with CIBIL is fixed but other bureau are still reporting late payment 😢. If they dont change i will complain again.

 

[The_Beast]

An update...
After some long discussions with branch officials, and lengthy conversation with Head office, i got a solution to my case...
The loan was taken with Auto debit(E mandate) from the starting of the loan. The employee of the bank prepared the mandate such that the date of auto debit is 1st working day of every month.. whereas,my emi is demanded on last day of every month.
Till 31st december 2021, according to the RBI rule, reporting of late payment in case of E mandate was to be done only if demand date and actual payment date exceeds 7 days..therefore,my payments were marked On Time... but from 2022, the rule changed.. now, late payment will be marked if payment from auto debit method is credited even 1 hour late.
I told the Bank that it was them who did all the paperworks,including the emi dage,auto debit date.. But the bank is stagnant on the verdict that since my payment gets credited 1-2 days late every month,according to rule,it is marked late.. However,on verbal grounds,they are accepting the fact that it was not my fault at all... i had sufficient balance all the time in the account from which emi deducts..i did not make late payments intentionally..
They gave me 2 solutions to prevent further late reporting.. either credit 1 month emi in advance to the account, or change e mandate date(which will take effect only from next month). I took the first solution.. and my July month payment is marked ON TIME.
I asked them if they can change my six months of Late reporting in Cibil,but they are helpless.. once Late payment is reported,they vant alter it...

Moral- Always check the E mandate date.. never trust bank blindly..
In this case, they were not at total fault(as the rule was changed by RBI..But they should have contacted me regarding it🥲...)
I cant remove that six black marks from my credit history,Ever!😞

 

[The_Beast]

An update...
After some long discussions with branch officials, and lengthy conversation with Head office, i got a solution to my case...
The loan was taken with Auto debit(E mandate) from the starting of the loan. The employee of the bank prepared the mandate such that the date of auto debit is 1st working day of every month.. whereas,my emi is demanded on last day of every month.
Till 31st december 2021, according to the RBI rule, reporting of late payment in case of E mandate was to be done only if demand date and actual payment date exceeds 7 days..therefore,my payments were marked On Time... but from 2022, the rule changed.. now, late payment will be marked if payment from auto debit method is credited even 1 hour late.
I told the Bank that it was them who did all the paperworks,including the emi dage,auto debit date.. But the bank is stagnant on the verdict that since my payment gets credited 1-2 days late every month,according to rule,it is marked late.. However,on verbal grounds,they are accepting the fact that it was not my fault at all... i had sufficient balance all the time in the account from which emi deducts..i did not make late payments intentionally..
They gave me 2 solutions to prevent further late reporting.. either credit 1 month emi in advance to the account, or change e mandate date(which will take effect only from next month). I took the first solution.. and my July month payment is marked ON TIME.
I asked them if they can change my six months of Late reporting in Cibil,but they are helpless.. once Late payment is reported,they vant alter it...

Moral- Always check the E mandate date.. never trust bank blindly..
In this case, they were not at total fault(as the rule was changed by RBI..But they should have contacted me regarding it🥲...)
I cant remove that six black marks from my credit history,Ever!😞

@prc1990

 

[naviworks]

An update...
After some long discussions with branch officials, and lengthy conversation with Head office, i got a solution to my case...
The loan was taken with Auto debit(E mandate) from the starting of the loan. The employee of the bank prepared the mandate such that the date of auto debit is 1st working day of every month.. whereas,my emi is demanded on last day of every month.
Till 31st december 2021, according to the RBI rule, reporting of late payment in case of E mandate was to be done only if demand date and actual payment date exceeds 7 days..therefore,my payments were marked On Time... but from 2022, the rule changed.. now, late payment will be marked if payment from auto debit method is credited even 1 hour late.
I told the Bank that it was them who did all the paperworks,including the emi dage,auto debit date.. But the bank is stagnant on the verdict that since my payment gets credited 1-2 days late every month,according to rule,it is marked late.. However,on verbal grounds,they are accepting the fact that it was not my fault at all... i had sufficient balance all the time in the account from which emi deducts..i did not make late payments intentionally..
They gave me 2 solutions to prevent further late reporting.. either credit 1 month emi in advance to the account, or change e mandate date(which will take effect only from next month). I took the first solution.. and my July month payment is marked ON TIME.
I asked them if they can change my six months of Late reporting in Cibil,but they are helpless.. once Late payment is reported,they vant alter it...

Moral- Always check the E mandate date.. never trust bank blindly..
In this case, they were not at total fault(as the rule was changed by RBI..But they should have contacted me regarding it🥲...)
I cant remove that six black marks from my credit history,Ever!😞

All my previous black marks were removed by bank. Am sure yours can also be removed. There is nothing banks can’t do.

 

[prc1990]

@prc1990

In my case, I changed my EMI date to first of every month as per manager recommendation, earlier it was 29th of the each month. Post changing the auto debit date, haven't faced any incorrect/late payment till now and all my previous late payments are also corrected. I would suggest to go for the correction if it is not a fault of yours. Kindly follow bank's escalation matrix and if you are not getting any satisfactory resolution even after that, go to RBI Ombudsman. You would get the results for sure.

 

[souvikdey2002]

An update...
After some long discussions with branch officials, and lengthy conversation with Head office, i got a solution to my case...
The loan was taken with Auto debit(E mandate) from the starting of the loan. The employee of the bank prepared the mandate such that the date of auto debit is 1st working day of every month.. whereas,my emi is demanded on last day of every month.
Till 31st december 2021, according to the RBI rule, reporting of late payment in case of E mandate was to be done only if demand date and actual payment date exceeds 7 days..therefore,my payments were marked On Time... but from 2022, the rule changed.. now, late payment will be marked if payment from auto debit method is credited even 1 hour late.
I told the Bank that it was them who did all the paperworks,including the emi dage,auto debit date.. But the bank is stagnant on the verdict that since my payment gets credited 1-2 days late every month,according to rule,it is marked late.. However,on verbal grounds,they are accepting the fact that it was not my fault at all... i had sufficient balance all the time in the account from which emi deducts..i did not make late payments intentionally..
They gave me 2 solutions to prevent further late reporting.. either credit 1 month emi in advance to the account, or change e mandate date(which will take effect only from next month). I took the first solution.. and my July month payment is marked ON TIME.
I asked them if they can change my six months of Late reporting in Cibil,but they are helpless.. once Late payment is reported,they vant alter it...

Moral- Always check the E mandate date.. never trust bank blindly..
In this case, they were not at total fault(as the rule was changed by RBI..But they should have contacted me regarding it🥲...)
I cant remove that six black marks from my credit history,Ever!😞

I think they can change.
If you put facts & figures properly in the table & able to prove that it is due to their fault then they are bound to change the even for last 5 years.
@prc1990 had a similar situation, I think he had corrected all the late payments for last 2 years, not just 6 months that too it was from a PSU.

 

[Credit Karma]

I personally found consumer complaint to be more effective. Because it follows top down approach.. wherin top bank official directs concerned branch manager to rectify the error and report. BM also sincerely follows the direction of his boss.

In my case SBI sent overdue report to cibil but I was paying emis on time. After complaining in the consumer website, the BM apologized and assures cibil will be corrected within next quarter. He also issues a certificate.View attachment 1917

Something similar has happened to me as well. It was in the PNB.

But I didn't have to reach to the top at all. They removed all derogatory marks expect one just after I reached out to their internal grievance redressal team.

Now I am following up the issue with the BM. And he has assured me that it will be corrected in coming months.

Let's see if he can keep his promise.

Or there is always RBI☺️