u/SabyasachiBanerjee

My friend has an SBI SimplySAVE credit card with an 85K limit. Due to financial issues, he has been paying only the minimum due for the last 4 months. Now he’s unable to continue, and with interest + charges, the outstanding has crossed 1lac.

He visited SBI’s Local Head Office in Kolkata asking for a settlement. They told him to wait for 3 months of default so the account can move to the settlement department, but interest will keep adding, and they said the reduction may only be around 20%.

The problem is recovery agents are now calling him 10 times a day, and also calling his wife and mother, which is adding a lot of pressure.

Now he has somehow arranged 50K from a friend and wants to settle the account immediately. He is not trying to run away — he genuinely wants to repay, but can’t manage the full amount right now.

I need help from this community for below advices

1. Is there any way to directly approach SBI for a one-time settlement before waiting 3 months?
2. Can interest/late charges be waived if he is ready to pay 50K upfront?
3. Should he write to the nodal officer / grievance redressal team instead of dealing with branch/recovery agents?
4. Has anyone successfully settled an SBI credit card in a similar situation?

My friend has an SBI SimplySAVE credit card with an 85K limit. Due to financial issues, he has been paying only the minimum due for the last 4 months. Now he’s unable to continue, and with interest + charges, the outstanding has crossed 1lac.

He visited SBI’s Local Head Office in Kolkata asking for a settlement. They told him to wait for 3 months of default so the account can move to the settlement department, but interest will keep adding, and they said the reduction may only be around 20%.

The problem is recovery agents are now calling him 10 times a day, and also calling his wife and mother, which is adding a lot of pressure.

Now he has somehow arranged 50K from a friend and wants to settle the account immediately. He is not trying to run away — he genuinely wants to repay, but can’t manage the full amount right now.

I need help from this community for below advices

1. Is there any way to directly approach SBI for a one-time settlement before waiting 3 months?
2. Can interest/late charges be waived if he is ready to pay 50K upfront?
3. Should he write to the nodal officer / grievance redressal team instead of dealing with branch/recovery agents?
4. Has anyone successfully settled an SBI credit card in a similar situation?

My friend has an SBI SimplySAVE credit card with an 85K limit. Due to financial issues, he has been paying only the minimum due for the last 4 months. Now he’s unable to continue, and with interest + charges, the outstanding has crossed 1lac.

He visited SBI’s Local Head Office in Kolkata asking for a settlement. They told him to wait for 3 months of default so the account can move to the settlement department, but interest will keep adding, and they said the reduction may only be around 20%.

The problem is recovery agents are now calling him 10 times a day, and also calling his wife and mother, which is adding a lot of pressure.

Now he has somehow arranged 50K from a friend and wants to settle the account immediately. He is not trying to run away — he genuinely wants to repay, but can’t manage the full amount right now.

I need help from this community for below advices

1. Is there any way to directly approach SBI for a one-time settlement before waiting 3 months?
2. Can interest/late charges be waived if he is ready to pay 50K upfront?
3. Should he write to the nodal officer / grievance redressal team instead of dealing with branch/recovery agents?
4. Has anyone successfully settled an SBI credit card in a similar situation?