Oct 24, 2008 12:22 AM
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For all who don't know, a few years ago the Govt of India allowed the setting up of a Credit Reporting agency in India. For those who do not understand the implications of this, in layman terms, Its an agency to record every possible loan, credit card, or other liabilities you have, possibly at a later stage even phone, electrcity bill payments , etc. These form your credit history and the banks will use this report to see how good or bad your past is, to give you a loan or new credit card, if at all it is satisfactory.
For those who scam around a bit, this is a sad thing as gradually you get cut off, but for those honest people around, if the banks report a wrong default in your name!! god help ypu!!
Because unlike USA there is no facility for the ordinary citizen to check his report and get a correction done. CIBILthe agency in India will ask you to get a copy of the report from the bank who refuses you a card or loan, but 99% chances are that they wont share this with you. If you do manage to get your hands on one, like I did, it takes ages to figure out who reported what as the reporting banks name is not listed. Just the year and date and amount of default.
I found something on my Credit report recently because no bank would give me a credit card!! Fortunately I managed to find one and lo behold!! dear SCB had reported a default for me on a credit card closed 5 YEARS ago!!! below is a letter I wrote to them yesterday.Enjoy!.
For anyone with similar problems please message me.!!
Attn: Priya Krishnaprakash
Head – Customer Care
Standard Chartered Bank,
Dear Ms. Krishnaprakash,
I wish to bring to your notice the challenges faced by your banks consumers in receiving adequate service from your contact centers and a potential risk from your bank's consumer credit management policy failure.
I have been talking to the SCB contact center teams for the last 2 months now requesting for a NDC (No Dues Certificate) and removal of my name which appears on SCB's defaulter list and updating of CIBIL Credit information report with accurate information but to no avail. And all this when we are talking of a credit card which was closed not in recent time but approximately 4-5 years ago.
However as you may be aware that unlike in the USA where it is a consumer's privilege to be provided a copy of his/her credit report and they are supported by acts such as the FDCPA and FCRA, such a facility is not available from CIBIL to India's consumer base,
In light of this extremely deficient system the opportunities for the banks to be lax in terms of reporting is large and thus results in cases like mine where in spite of full and final payments including fees and interest, I still know that my CIBIL CIR is not updated correctly and shows a default from SCB in spite of the bank having received the payment years ago.
Not only do I see this as an act of defamation of character but also hold SCB liable for the challenges I am exposed to today
All that stops me from taking this matter to a consumer redressal forum is belief that SCB shall be prompt enough to redress and provide the proper documentation to ensure the derogatory articles are removed after this communication is received by you.
As goes the contact center please see below a chronological description of my interactions with SCB and the resolution status till now.
Date - 09/23/08, 11:40 AM
Spoke to Arpita, Said the card has no Outstanding / 0 Balance, and card was deactivated in 2004. Last Reversals. Rs 1451.05 26 / July 2005
and on 25/05 Rs.1573.08. Requested her for a No Due Certificate and last 5 statements. Said will send the statement in 7 days but will charge me for each statement. Asked her how will they make me pay? Since I don't have any active account how they will take the money for the statements, didn't have an answer.
Call disconnected by agent.
Date - 09/23/08, 11:45 AM
Spoke to Vinita. Explained the position all over again. She said statements not needed and said will send a no dues certificate - hard copy - within 4 working.
Also said will update the CIBIL reports. This will take 7 days and they will inform me about the changes made. Asked her for a task reference number. She said they don't have any reference number or ticket generation system!! I can Call and refer to her name and time and date of call.
Date - 10/03/08, Noon
Spoke to Kavita, Said that they have been told by the collections team that CIBIL report doesn't show an outstanding. I told her that I haven't received the no dues certificate. She said that the previous agent didn't take the request for that!!. Said will initiate no dues certificate now and will send in within 10 days.
Date - 10/14/2008, Post Lunch Hour
Spoke to Ayesha. She said that they have forwarded the request for the No due Certificate to be send and due to public holidays in between they may not have sent the report to me. Said I should be getting this in a few days. Also asked her for a copy of my CIBIL report as updated now to verify that thy have cleared my CRR, said they cannot send that however No dues certificate should prove that my CIBIL report is clear as SCB process is to send a no due certificate only if the CIBIL report is clear.
Date 10/22/2008 10:30 AM,
Spoke to Tina. She said that the NDC request had not been actioned by the concerned depts.!!. Said it will take 7 working days more to get an NDC to me. Said that the CIBIL report had been updated. Asked for proof of updating. Didn't have any. Asked her to escalate this and prioritize as I had been trying for months to get this done, said will do so and try and get the NDC to me in 5 working days.
As you can see by the above interactions, that the contact center is incapable of dispute resolution. I would request a prompt action by SCB to provide me with a No Dues certificate and also a printed copy of my credit report from CIBIL to prove that the necessary update have been made.
I for years avoided owning a credit card after SCB, but now I have the need for one especially for airline bookings etc. Thus SCB's negative report has greatly hampered my working and caused losses on several fronts not to mention the inconvenience.
Hope you shall take this in earnest and see the opportunity for improvement for your organization, and systems as the future holds many more cases with highly aware consumers who I am sure unlike me would prefer monetary compensation in lieu of such service failures.
