I have the same problem with HSBC .. I was advice by some one that ..I can cancel the credit card by paying a lesser amount . I contacted the bank and they agreed for a settlement . no one told me about written off or settled (I had no clue about it ) . so I paid the amount and got the no due letter . but after couple of years when I applied for loan .it got rejected saying Bad Credit report .
When I contacted HSBC to find out whats remaining so that I can pay it off .. I got very poor response from them and more over no body knew whats the outstanding amount . they say its showing as ZERO ..I have no clue how to proceed now