How to raise dispute in CIBIL – Consumer dispute resolution

In today’s credit-focused world, maintaining an accurate CIBIL Score is essential. If you spot any errors in your credit report, you have the right to raise dispute in CIBIL to get them corrected. Understanding the types of discrepancies and how to address them can help you manage your credit profile effectively and ensure your score reflects your true creditworthiness.

Your CIBIL Score plays an important factor in getting loan approvals, better deal on interest rates, and so on. A high credit score can get you loan approvals for higher amounts and better interest rates.

✅  Check your eligibility for personal loan with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.

• Visit the official CIBIL website: Navigate to the official CIBIL website and use your CIBIL login to access your account. Locate the credit reports section and click on ‘Dispute an Item’.
• Complete the dispute form: Fill in the dispute form provided carefully with accurate information. It is important to be precise to avoid delays in the resolution process.
• Submit your dispute: Once you complete the dispute form, hit the submit button to officially raise a dispute.

Common reasons for raising a CIBIL dispute

You can raise dispute in CIBIL if you notice any errors or discrepancies in your credit report. Common reasons include:

• Incorrect repayment status – Payments marked as late or missed even if paid on time.
• Wrong personal details – Errors in name, date of birth, or address.
• Duplicate accounts – Multiple entries for the same loan or credit card.
• Discrepancies in loan balances – Mismatched outstanding amounts reported by lenders.
• Unrecognised accounts – Loans or credit cards that you did not open.

Raising a dispute for these issues helps maintain an accurate CIBIL Score and ensures lenders assess your creditworthiness correctly.

• Personal details disputes: Small issues like incorrect names, addresses, or contact information can seem minor, but they can still impact your creditworthiness.
• Account status disputes: Sometimes, your report might show an account as 'delinquent' or 'closed' when it is not the case. It is essential to swiftly resolve these issues to prevent adverse effects on your credit score.
• Ownership or type of credit account disputes: Imagine your report showing an account that you have never heard of. This type of dispute pertains to discrepancies in the ownership or classification of credit accounts, and it is crucial to get it sorted out to ensure an accurate representation of your financial history.
• Credit enquiries disputes: If you spot enquiries on your report that you did not initiate, it could be a red flag. Unauthorised credit enquiries can negatively impact your credit score, so it is vital to dispute them promptly.

CIBIL dispute resolution process

Here’s how the cibil dispute raise process typically works:

• Identify errors in your report – Review your credit report carefully for inaccuracies or discrepancies.
• Log in to the CIBIL portal – Visit the official CIBIL website and access your account.
• Select the dispute type – Choose the specific entry or error you want to challenge.
• Provide supporting documents – Upload proofs such as bank statements, repayment receipts, or ID corrections.
• Submit the dispute – Complete and submit your dispute request online.
• Acknowledgement and tracking – You’ll receive a reference ID to track the status of your dispute.

• Resolution by CIBIL and lenders – CIBIL verifies with the reporting bank or lender and updates the record if the error is confirmed.

  
  

Checking your CIBIL Report regularly is your first line of defence against these issues. Being proactive can help you spot these discrepancies early on and take swift action to correct them. If you are wondering how to do this effectively, consider signing up for the Bajaj Finserv Credit Pulse Report. This unique CIBIL-powered subscription allows you to monitor your Credit Health Report in real-time by offering access to all your credit accounts and the factors that influence them in one place via a personalised credit dashboard. It also equips you with monthly CIBIL Score updates so you can immediately identify even the smallest changes to your credit profile.

Remember, you have the right to raise a dispute and ensure that your credit report accurately reflects your financial standing. So, if you spot something suspicious, do not hesitate – take action, raise that dispute, and get those discrepancies rectified.