When settlement may be worth considering
- You have missed several payments and the outstanding keeps rising.
- You cannot pay the full outstanding, even with the bank’s EMI or payment-plan options.
- You owe money on cards from more than one bank and need a plan for all of them.
- Recovery calls are affecting your work, family or health.
How we handle credit card settlements
- List every card with its outstanding, overdue period and any notices received.
- Work out what you can realistically pay, and when — as a lump sum or in a few instalments.
- Contact each bank’s collections or settlement team and negotiate on your behalf.
- Get the agreed amount and payment dates in writing before you pay anything.
- After the final payment, follow up for the bank’s closure or No Dues letter.
Guides on this topic
Common questions
Will my credit card be closed after settlement?
Yes. Once a settlement is completed the card account is closed and reported as settled to the credit bureaus.
Can I settle cards from more than one bank?
Yes. Each bank is negotiated separately and the terms can differ. We help you prioritise which accounts to settle first based on what you can pay.
More answers on our FAQ page.