Hi,

I had some outstanding on my credit cards and like eveyone else , I too did face the heat of recession.Though late but I cleared all the accounts successfully with every bank except CITI( where being my first card , I settled with them . Though it was an wrong commitment from bank which resulted in settlement).

Since after clearing all dues and having written off , I am struggling to get a home loan.
My only query is "would somebody face the consequences of bad cibil report whole life, however I am earning handsome right now and as I told that I cleared all outstanding without any settlement except one bank"

Are the any rule governing this? If settled account is an issue then it is of course in favours of bank's monopoly .

Any rule governing CIBIL reports?

Thanks