I had taken a personal loan from HSBC Bank of Rs 20,000 on my gold credit card (which has a limit of Rs 50,000). Owing to financial circumstances and change of location, I couldn't pay on time as a result their collection dept sent me a threatening memo to up pay nearly 28,000.
Further pertaining to my request, HSBC's debt collection dept later agreed to settle the dues at Rs 21,230 and sent a mail mentioning that the next statement of my credit card would reflect 0 dues, after making this payment.
My request to pay the same amount in EMIs was declined as a result I borrowed from my relatives & friends and paid the entire amount of Rs 21,230 in HSBC Thane branch!
However noew HSBC's debt collection dept has notified me that they will still abstain from removing my name as 'Defaulter' with all relevant credit reference agencies.
This is really unjustified and have reflected harshly in my home loan application to various banks. My 0 dues statement has not helped either!
