Errors in your CIBIL score or credit information report are an uncommon occurrence, but
there is a possibility of wrong information being updated on it. The trends on your credit
history do not have an immediate impact on your credit score, but they do over time. The
procedure for correcting a wrong entry on the CIBIL report starts with identifying an issue and
registering a dispute with CIBIL.
CIBIL stands for Credit Information Bureau (India) Limited. It is one of the credit bureaus in India
that records consumer and business credit history. It is authorised by the Reserve Bank of India
to record the repayment details of borrowers and calculate credit scores on the basis of
available information in the report. Lenders, financial institutions, and credit card companies
report your repayment details to CIBIL. Generally, the information on your repayment
behaviour is sent to CIBIL every 3 months. Based on the information received by the financial
institutions, your CIBIL credit report is updated. There are chances that some wrong
information is sent by the financial institutions or some wrong information gets updated on
your CIBIL credit report by the bureau. Wrong information has the ability to impact your credit
score. What do you do in that case?
How to Raise a Dispute with CIBIL for Report Correction?
Getting chased by credit card debt collectors even when you have never defaulted on the
repayment can be stressful. A bank loan application was turned down. You will be offered high-
interest loans. These are just a few of the potentially disastrous implications of a credit report
inaccuracy. Incorrect information can occasionally make its way onto your report owing to
technical mistakes, or miscommunication. These things can cause financial stress, and to steer
away from it, you must report any error that you find on your CIBIL credit report immediately to
the bureau, asking for a correction.
Here are four (4) steps to raise a dispute with CIBIL for report correction:
1. Review your CIBIL Credit Report
Before you start the process of removing a wrong entry from your CIBIL report, you should
retrieve your credit score report and review it for the errors. There is a possibility that your
credit report may have the following errors:
a) Incorrect updation of your personal information such as your name, date of birth, PAN
details, contact number, etc.
b) Wrong loan account added to your report
c) Inaccurate outstanding balance information
d) Incorrect credit limit assignment
e) Status of your accounts
f) Wrong information on your repayment pattern
Start by identifying the type of error that your CIBIL report has in order to remove the entry.
2. Fill the CIBIL Dispute Form Online
To remove a wrong entry in your CIBIL credit report, you have to file an online dispute with the
credit bureau. Go to the dispute resolution area of their website and fill out the form. You will
need to provide a 9-digit control number from your credit report that contains the disputed
Additional Information: A control number is a unique number assigned to an individual in the
database of CIBIL where all the records of that person are stored.
3. Processing and Verification of the CIBIL Dispute Form
Once you submit the CIBIL dispute form online, the credit bureau will verify the dispute. The
credit bureau might approach your bank or lenders from where you have borrowed money.
CIBIL cannot make any changes on its own without verifying them with the financial
institutions. To expedite the process, you must validate the dispute you have raised by sharing
supporting documents that may act as evidence.
4. Wait for the Resolution
Typically, for a wrong entry to be corrected on a CIBIL credit report, it takes 30 days. Banks
must come up with a formal resolution for the dispute you have raised within 45 days of the
matter being reported, according to the law. Once there is a formal resolution, you will be
notified of the same via an email. If you are not satisfied with the resolution, you can raise a
new request with CIBIL for the removal of the wrong entry. Remember, you will need to
provide the details of the previous dispute request.
Credit ratings are an essential aspect of any loan or credit card application. It is a measure of
your creditworthiness, and it is therefore, critical for anyone to keep their credit score up to
date. Periodically review your credit report to understand what is up with your credit report. In
general, look for dates, amounts, and account details that are inaccurate to ensure that all of
the information in your CIBIL report is legitimate and correct. However, if any of the flaws in the
report have been revealed, you must initiate the process of correcting them as soon as
possible. To have a problem resolved with CIBIL, you must submit a formal application and wait
for the resolution.