The Ultimate Guide to Correcting Credit Disputes

Learn how to tackle credit history disputes head-on with our comprehensive guide, providing you with valuable insights and strategies for success.

A CIBIL score or a credit score is calculated based on the CIBIL/ credit report of the individual. A CIBIL report is a Credit Information Report (CIR) that contains all the details about your borrowing history. Since these details are collated from the various financial institutes, there is a possibility of an error getting in. It can be related to incorrectly marking your payment status, not closing your paid-off debt or missing personal information. It is essential to check your credit report occasionally to check for discrepancies and raise disputes if there are any.

Where to get CIBIL report?

The credit report is available to be viewed and downloaded from the official site of Credit Information Bureau India Limited (CIBIL). Once you are signed up and logged in, your report will be accessible through the home page or the navigation bar on the left.

Visit website to check your CIBIL Report-https://www.cibil.com/

What information is available in the CIBIL report?

The CIBIL report contains the following information:

1. Your CIBIL/ credit score
2. Personal Information such as PAN card number, Name, Date of Birth
3. Contact Information including your phone number, address and email address
4. Employment Information with income and related details
5. Account Information with the credited amount, balance, payment status with past payments and more.
6. Enquiry Information including lender name, date of enquiry, purpose of loan and amount.

What disputes can be corrected in the CIBIL report?

The information in the CIBIL report is received from its financial institute members. When one borrows money, the respective bank ot institute shares this information to CIBIL. The bureau collects this data into its database to make the Credit Information Report (CIR) for the credit score.

So any errors or mistakes that happened while filling out the form or made by the lenders will reflect in the final report and your score. The following errors can be disputed by the customer:

1. Wrong personal details can be changed. There can be instances where your personal information is mentioned incorrectly. You can update your PAN card details, date of birth and your name correctly.
2. Incorrect information on loans and payments. Repayment history has a huge impact on your credit score. So it's important to have such details updated correctly to avoid a drop in the score. You can also dispute other details such as balance and overdue. 
3. Incorrect account details. If you see any duplicate accounts or wrong account information in the report you should raise concerns to have it reworked.

One thing to note before raising a complaint is to make sure you have the latest report at hand. Check the “Date Reported” and if it is more than 2 months old, your report is old. Write to CIBIL (details are provided at the end) to have it updated.

How to report error in a CIBIL report?

Login to your CIBIL account from https://www.cibil.com/

Click on the view credit report link and see your report. If you scroll to the bottom, you can find the link to “Raise a Dispute” or click here https://www.cibil.com/consumer-dispute-resolution for the dispute centre. 

Once you enter the Dispute Centre you can find the details on the types of disputes you can raise and if you scroll a bit more, you will find the following menu.

Choose the appropriate icon depending on the type of error you have in your report.

Once it is selected you will be welcomed by the frequently raised issues under the criteria. Choose one to find the solution and the instructions will be visible.

Click the “Raise A Dispute” button to move to the next page.

Fill in the to-be-updated details in the fields and submit.

Is there an offline way to raise a dispute in the CIBIL report?

You can also raise a dispute by writing to the Bureau at their address:

TransUnion CIBIL Limited

One World Center, Tower 2, 19th Floor

Senapati Bapat Marg, Elphinstone Road

Mumbai 400 013

For any further assistance, you can contact their customer representatives at 022 6140 4300

Can CIBIL update the error in the report?

CIBIL cannot directly change your credit score or update your credit report. The bureau collates the data from the financial institutes and makes the report. So regarding the issues raised, CIBIL communicates the dispute to the concerned financial institute. The field under the report is marked as “Under Dispute”. The institute checks the concern from their end and gives a verdict. If it was an error, it is updated otherwise, no change is made.

How long will it take to update the CIBIL report?

Typically, the time taken for the report to be updated is 30 days. However, it will depend on the concerned financial institution to confirm the error.

Where can I check the status of my dispute?

You can the status of your dispute by logging into your CIBIL account and checking the CIBIL Dispute Center. The status of your concern will be updated under the “Dispute Status”.

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