What is CIBIL Dispute Resolution? Know the Steps to Raise a Dispute

Are you aware of the fact that even the slightest error in your CIBIL report, if remains unnoticed and unresolved for long, could lead to a drastic fall in your credit score?

To avoid such a situation, it becomes necessary for you to check your CIBIL report regularly to find mistakes and errors and resolve them by raising a dispute with CIBIL. Credit report errors can be in the form of incorrect personal or contact information, typo errors, duplicity, mismatched or faulty information, inaccurate credit details, etc. Any of these errors, if not rectified could adversely affect your new credit applications and negatively impact your CIBIL score. It is advised to check and download your CIBIL report regularly for errors, so you may not face any difficulty in availing loans, credit cards, etc. when you actually need it in future.

In this article, we would like to help you understand the reasons and process of raising a dispute with TransUnion CIBIL.

What is Consumer Dispute Resolution?

Consumer Dispute Resolution is an online process through which you can initiate a dispute with CIBIL to rectify various discrepancies occurring in your CIBIL report. TransUnion CIBIL, considered as one of the leading Credit Information Companies (CICs) or credit bureaus across the nation, provides online dispute resolution services free of cost to its customers.

Reasons why you should raise a dispute with CIBIL

If in case you find some inaccuracies or discrepancies in your Credit Information Report (CIR) or Company Credit Report (CCR), you can opt for the CIBIL dispute resolution process, which is available online on the CIBIL’s official website – ‘https://www.transunioncibil.com/’.

Below listed are the various reasons why you need to raise a dispute with CIBIL and get the error resolved:

Disputes related to Account Information

• Loan and credit card repayments are not reflecting in the CIBIL report
• Closed accounts are still shown as active
• Credit card balances do not match with the current statement
• Paid-off accounts are still shown as unpaid or open

Disputes related to Personal or Contact Information

• Personal or contact information is incorrect or outdated – Name duplicity, mobile numbers, residential addresses, email IDs, etc.
• Need to update ID proofs or personal details
• Need to raise dispute related to faulty, or mismatched information

Disputes related to Enquiry Information

• Credit enquiries under your name, which you have not applied
• Loans or credit cards shown in the credit report that you are not availing
  

Steps to Raise a CIBIL Dispute Online

Consider the below-stated 6 simple steps to raise an online dispute with CIBIL: 

Step 1: Login with your CIBIL credentials or if you have already received a copy of your report from the lender then you can sign in or register with CIBIL and login afterward.

Step 2: Under the ‘Credit Report’ section of your report, check for ‘Dispute Centre’ and further click on the ‘Dispute an Item’ option.

Step 3: Afterwards, you shall be redirected to the ‘Online Dispute Form’ and fill out all the required details.

Step 4: Under the ‘Identification#’, select the identification documents that require correction and change the corresponding number below.

Step 5: Next, you need to click on the ‘+’ symbol to correct information related to multiple documents.

Step 6: Click on ‘Submit’ after raising a dispute regarding all the errors or issues.

Note: As per the Credit Information Companies (Regulation) Act 2005, no correction, deletion or addition to any information in the database can be made by CIBIL without confirmation from the concerned bank/financial institution. 

CIBIL Consumer Dispute Resolution Process

Once you have raised all the disputes, then CIBIL shall scrutinize the errors, bring the concern to your lender, and resolve all the mistakes. You shall receive an SMS every 7 days after your mistakes are clarified and the report is corrected. Usually, CIBIL takes around 30 working days to resolve all the raised disputes.

As mentioned earlier, CIBIL does not edit, modify, change, or delete any credit information present in your CIBIL report before getting authorization from your respective lender. You can contact CIBIL by writing your query, concern, and feedback at the below-mentioned registered office address of TransUnion CIBIL:

TransUnion CIBIL Ltd.
One World Center, 19th Floor, Tower 2A and 2B,
Senapati Bapat Marg,
Lower Parel, Mumbai – 400 013 

Useful Tips:

Knowingly or unknowingly, there might be situations where you might tend to miss out on checking your CIBIL report. Due to this, you might not know who else is using your name or contact information in availing credit products. Therefore, to avoid any type of such situation and to remain credit-healthy, make it a practice to monitor your CIBIL report regularly and check for any faulty or incorrect information.

Look out for discrepancies in personal and contact information, payment history and enquiry section, existing credit products, collateral and security details section, etc., and resolve them at the earliest by raising an online dispute with your respective credit bureau. Make yourself creditworthy by maintaining a good CIBIL score and enjoy the lending benefits by making your CIBIL report error-free.