u/Affectionate-Brief21

I have currently defaulted on all my credit card and EMI payments and looking at settlement advice from folks who have already been through this. It’s been 3 months since I made payments due to job loss and these are in NPA already. All the CC are offering settlements already but with just 10-20% waiver. TIA.

1. What are realistic offers for PL and CC settlements?
2. Has any bank dragged you into Arbitration or a court case?
3. How has settlement impacted your future borrowing prospects? What happens after 7 years?

Total Outstanding
Tata Capital PL: 8.99L
HDFC PL: 9.35L
ICICI CC: 3.85L(4.5l including interest)
Axis: 3.33L
One card: 2.35L
Standard Chartered: 4.5L
HDFC cc: 45k
Kreditbee: 1.6L

Note: Please do not ask me to pay off everything in full as regarding CIBIL Score. I am aware of all the impact it will have. I have been struggling for the past 6 years and ended up here after paying minimum due for years. Not looking for any advice on these lines.