RBL Bank Credit Card Settlement: How to Clear Your Dues Without Harassment
Dealing with mounting credit card debt can be overwhelming, and persistent recovery calls from banks can make the situation even more stressful. If you are struggling with RBL Bank credit card dues and facing harassment from recovery agents, you have the right to seek relief through a credit card settlement while protecting yourself from unlawful collection practices.
What is RBL Bank Credit Card Settlement?
A credit card settlement is a negotiation process where you agree to pay a reduced amount to close your outstanding debt. Instead of repaying the full amount, the bank may offer a one-time settlement for a lower sum, helping you avoid further collection pressure and legal complications.
For example, if you owe ₹1,50,000, the bank may agree to settle for ₹90,000 as a final payment. However, this will be marked as “Settled” in your credit report, which may impact your CIBIL score.
How to Settle Your RBL Bank Credit Card Debt Without Harassment
1️⃣ Know Your Rights
- Banks cannot harass you through repeated calls, threats, or forceful recovery methods.
- Recovery agents must follow RBI guidelines, including calling only during permitted hours.
- If you face harassment, you can file a complaint with the Banking Ombudsman.
2️⃣ Assess Your Financial Situation
- Calculate your total outstanding dues, penalties, and interest charges.
- Determine how much you can afford to pay in a settlement.
3️⃣ Contact RBL Bank and Negotiate
- Call the debt settlement department and express your inability to repay the full amount.
- Request a one-time settlement to close the account.
4️⃣ Get a Written Settlement Agreement
- Always request a written confirmation from the bank before making any payment.
- Ensure the agreement includes the final settlement amount, payment deadline, and a No Objection Certificate (NOC) upon completion.
5️⃣ Make the Payment and Close the Account
- Pay the agreed amount within the given timeframe.
- Obtain a NOC from RBL Bank as proof of settlement.
6️⃣ Monitor Your Credit Report
- Ensure that your credit report reflects the updated settlement status correctly.
- Note that a “Settled” status may lower your credit score temporarily.
How to Handle Harassment from Recovery Agents
If you are receiving constant recovery calls or facing threats from RBL Bank agents, follow these steps:
✅ Know Your Legal Rights – Banks cannot harass, threaten, or misuse your personal information.
✅ Request Written Communication – Ask the bank to communicate only through emails or letters.
✅ Record Conversations – If agents are using abusive language, record the calls as evidence.
✅ File a Complaint – Report harassment to the Banking Ombudsman, RBI, or consumer forums.
Alternatives to Credit Card Settlement
If you want to avoid the impact of settlement on your credit score, consider these options:
💡 EMI Restructuring: Request lower EMIs or an extended repayment period.
💡 Balance Transfer: Shift your dues to another bank with lower interest rates.
💡 Debt Consolidation Loan: Take a personal loan to repay credit card debt at a reduced interest rate.
Take Action Today and Stop Bank Harassment!
If you are being harassed by RBL Bank’s recovery agents or need assistance with a credit card settlement, we can help.
📞 Call Now: 1800-309-1902
📧 Email Us: info@bankharassment.com
