How to rectify errors in your CIBIL report? Know step by step process here
While the CIBIL score is calculated on the basis of your repayment details provided by lenders and credit card issuers to CIBIL, sometimes, one may come across errors in the Credit Information Report or CIBIL Report.
CIBIL Report or Credit Information Report (CIR) contains complete details of one’s credit history across various lenders and products such as home loan, automobile loan, credit card, personal loan, overdraft facilities, etc. Among other things, the CIR contains the CIBIL Score, a three-digit numeric summary of one’s credit history.
While the CIBIL score is calculated on the basis of your repayment details provided by lenders and credit card issuers to CIBIL, sometimes, one may come across errors in the CIR.
Mistakes may occur in credit report owing to reasons like a misprint, incorrect information provided by the financial institution to CIBIL, or mistakes pertaining to one’s basic details.
See Zee Business Live TV Streaming Below:
In case, if you find any errors in your CIR, follow the below given steps to raise the issue with CIBIL. You can dispute multiple fields and information on your report in a single dispute by navigating each section of the report i.e. Personal, Contact, Employment, Account Details and Enquiry.
Following are the steps provided by CIBIL to raise a Dispute Request -
- Login to myCIBIL
- Go to Credit Reports Section
- Navigate to respective sub-section and click on ‘Raise a Dispute’
- Complete the online dispute form
- Select the relevant section which you want to dispute
- If you are disputing ownership, select dispute type or if disputing data inaccuracies, enter a value for the disputed field and then, submit
Alternatively, one can raise a ‘Dispute Request’ by writing at the following address –
TransUnion CIBIL Limited, One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013.
Based on the type of dispute, CIBIL takes up the matter with the concerned bank or financial institution. One should note that the bank or financial institution accepts or rejects the dispute. If the dispute is accepted, corrections are made and “Under Dispute” is removed from Disputed field under relevant section(s).
Subject to the time taken by the bank or financial institution, the whole process will be completed within 30 days and the CIBIL doesn’t charge its customers for this service.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
03:42 PM IST