Can you remove Post Write off closed status from CIBIL Report?

 

Your CIBIL report is one of the most important documents to understand an individual’s creditworthiness. It describes a brief about your financial history and the details of your loans, credit card payments, or defaults, if any.

A Post Write Off Closed in CIBIL indicates that an individual has taken a credit facility in the past, and the credit facility became delinquent due to non-payment. Later, the borrower closed that credit facility as standard closure procedure.

But the question is that is there any way to remove Post Write off closed in CIBIL? Let’s discuss about it.

Understanding the Post Write Off Closed status:

If a borrower hasn’t paid a loan or credit card for a long time, the lender has the right to declare it as "written off." This essentially means that they have already reached the stage where they have accepted the loss and, therefore, have taken the loan out of their account of deposits.

When the money owed by the borrower is finally paid, the lender would change the status to Post Write Off Closed in CIBIL, which means that the debt was paid off after being written off. Though imparting such an update is considered a good deed as it is releasing the borrower from the burden of debt, this status will detrimentally affect your credit score and will also give you a hard time when trying to borrow in the future.

·       Steps to Remove the Post Write-Off Closed in CIBIL

Removing the Post Write Off Closed in CIBIL might be challenging but not a hopeless situation to get over. Here are a few steps that can be quite helpful in the process of removing it:

1. Convince your lender - Get in touch with your lender and convince them to remove Post write off closed in CIBIL. As you have paid the entire outstanding amount to them against the credit facility.

2. Submit online dispute in CIBIL – Once the lender agrees to remove Post Write Off Closed from your CIBIL, you can submit an online dispute in your CIBIL Portal to speed up the process.

 

Getting rid of "Post Write-Off Closed" status from your CIBIL report can be tough, as the new guideline implemented by RBI to report those credit facilities as Post Write-Off Closed, which became delinquent earlier but now closed by paying the outstanding amount. 

That is why most of the lenders follow this and report the new status in CIBIL, but among them, many of lenders remove, if an individual convinces them properly. But it is completely the choice of the lender to make any changes.