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What Does ‘Written-off’ Status Mean in a CIBIL Report?

To develop a healthy CIBIL record, it is crucial to understand all of its associated elements and terms. A CIBIL report contains details of an individual's credit history such as the number of accounts, name of the lender, loan amount, as well as the payment history. If you have ever read your CIBIL report, you might have come across the term ‘Written-off’. 


This term is detrimental to the health of your CIBIL score, as it means that the borrower was unable to pay their dues on a given loan or line of credit, and the lender had to ‘write-off’ the loan amount. However, what if we told you that you could get this ‘written-off’ tag cleared to avoid further damage to your CIBIL record and score?

How to Clear Written Off Status from Your CIBIL Report?

Follow these easy steps to remove the ‘Written Off’ status from your CIBIL report:

 

  • Request a Copy

Request CIBIL to provide you with a copy of your credit report and check whether the ‘Written-off’ status is correct.

  • Assess Your CIBIL Report

In case of a grievance, assess whether you have sufficient grounds to raise a complaint

  • Reach Out to Your Lender

Contact your lender and ask them to rectify the status. For this, you will be required to submit evidence supporting your case.

  • Pay Outstanding Dues

In case of any outstanding dues, settle them in full or on a mutually agreed-upon amount and ask them to share the updates with CIBIL.

  • Obtain a No-Due Certificate

On clearing all your outstanding dues, request your lender to provide a No Due Certificate. It acts as proof that you have completely repaid all your dues.

  • Raise a Complaint to CIBIL

If the lender is not cooperative, file a complaint with CIBIL by visiting the dispute resolution portal. Provide the required details and documents to successfully raise a grievance.

  • Keep Track of Your Complaint

Ensure to follow up and check the status of your complaint. Within a few days, your grievances are likely to be resolved.

FAQs

How To Remove “Settled” Status from Your CIBIL Report?

  • Step 1: Pay the outstanding amount on your loan
  • Step 2: Receive the No Objection Certificate (NOC) from your lender
  • Step 3: Raise a dispute on the CIBIL website

 

The credit bureau will then confirm the update with the lending institution and change the status from “settled” to “closed” within a period of 30 days.

What is Debt Settlement?

Debt settlement in a CIBIL report refers to the process where a borrower and a lender agree to settle an outstanding debt for a reduced amount. This typically involves the borrower making a partial payment to the lender to clear the debt, and the lender marking the account as "settled" on the borrower's credit report.

What does “closed” status mean on CIBIL report?

The term "closed" typically refers to the status of a credit account or loan. When an account is marked as "closed," it means that the account has been fully paid off, and there are no outstanding dues or balances associated with it. This is generally a positive status, as it indicates that you have successfully repaid the debt associated with that account.

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