How to identify errors in your CIBIL Report
1. Incorrect Personal Information: Misspelt name, outdated address, or wrong date of birth.
2. Inaccurate Account Details: Incorrect loan amounts, payment history errors, or unauthorised accounts.
3. Unauthorised Inquiries: Inquiries on your report that you didn’t authorise or recognise.
4. Duplicate Entries: Multiple listings for the same credit account.
Now, let’s walk through the steps to you need to take in order to correct these errors
Step 1
Get Your CIBIL Report
– Visit the official CIBIL website and request your credit report.
– You may need to provide identification and pay a nominal fee, if applicable.
Step 2
Double-check Your CIBIL Report
– Carefully examine each section of your report for inaccuracies.
– Make a note of any errors you find, including specific details like account numbers and dates.
Step 3
List down all the errors
– Make note of all the errors you identified and any supporting evidence, such as bank statements or payment receipts.
– This documentation will strengthen your case when disputing the errors with CIBIL.
Step 4
Get in touch with CIBIL
– Reach out to CIBIL through their website or customer service hotline to report the errors.
– Fill out a dispute form provided by CIBIL and submit it along with your documentation.
Step 5
Submit Dispute Form
– Complete the dispute form accurately, providing details of the errors and the corrections you’re requesting.
– Attach copies of your supporting documents to justify your dispute.
Step 6
Wait for Investigation
– CIBIL will investigate your reported mistakes by contacting the relevant credit institutions.
– They will notify you of the progress and outcome of the investigation.
Step 7
Review the Updated Report
– Once CIBIL completes its investigation, it will update your credit report accordingly.
– Review the updated report to ensure that the errors have been corrected.
Step 8
Follow Up if Necessary
– If the errors persist or if you have additional concerns, follow up with CIBIL to ensure resolution.
– Provide any further documentation or information requested by CIBIL to support your dispute.
Step 9
Monitor Your Credit Report
– After rectifying the errors, continue to monitor your credit report regularly.
– Request a free credit report from CIBIL annually to stay informed about any changes.
Correcting mistakes on your CIBIL report is essential for maintaining a healthy credit profile. By following these straightforward steps, you can address errors efficiently and ensure that your credit report accurately reflects your financial history. Regular monitoring of your credit report is key to spotting and resolving any future inaccuracies, helping you secure favourable credit opportunities and safeguarding your financial well-being.
