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Is It Possible To Negotiate Debt And Save Your CIBIL Score?

Cry Now More For Your Low CIBIL Score

Ask CreditSmartWe recently got a question from Nurain about a blocked card and debt settlement issue he’s dealing with. If you have you own credit question, send it to!

Dear CreditSmart,

Hi I have hdfc credit card and my amount due is 87000 they offer me pay my card is blocked they offer me pay 91000 for no due .I want to settled and reverse my interest they highly charged I already pay about 50000 as interest and I want to clear all due and also maintain good score pls suggest me




Greetings Nurain!

Thank you for your email, lets see if we can help. I’m sorry to hear of your card being blocked. Card issuers do exercise this right in some cases of delinquency, but rest assured it’s not the end of the world – and it’s not the end of your credit score.

Your best course of action here is to call the collections department and try to negotiate. If they offer 91000 for no due, keep a positive attitude, and do your best negotiation. There is still a chance to bring the account back to good standing. In many cases like yours where a large amount of interest has already been paid, banks are more than willing to take a lower offer to settle the account.

If possible, as you negotiate, try to make sure the account stays open even after this situation is resolved. This is because on your CIBIL report an account marked as ‘closed by the issuer’ will indeed hurt your credit score.

It’s not good for a blocked account to show on your CIBIL report for too long, so the sooner you settle the card, the less your CIBIL score will suffer in the long term.

We wish you the best of luck in negotiating with your bank! Please do let us know how it turns out.

Best Regards,


Jay Kaul

About Jay Kaul

Jay is a financial and credit expert and freelance contributor to CreditSmart. He's always keeping his eyes open for the latest credit card trends in India and provides a sharp insight on new entries into the market.

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