How to raise an online dispute in CIBIL?

 




To raise a dispute in CIBIL (Credit Information Bureau India Limited) you have to go through a step-by-step procedure, which is discussed in detail below. Raising a dispute can allow you to complain about the data inaccuracies that are reported by mistake in your CIBIL credit report.

 

1.      Get your latest CIBIL report:

Before you are going to raise a dispute, you must have a copy of your latest credit report. You can get a free credit report once a year from CIBIL as free or may purchase reports any time after your free report if you pay the subscription fees as per your requirement.

2.      Find out the inaccuracies:

Once you get your CIBIL credit report.  Check carefully to identify any inaccuracies or discrepancies. This could include incorrect personal details like wrong Name, Date of birth, PAN Number, Voter ID number, E-mail ID, mobile number etc., or inaccurate account information like any negative status or payment inaccuracies of your loans and credit cards, or maybe a loan or credit card that was never yours.

3.      Arrange supporting details:

You should arrange all the supporting details so that raising the dispute, can sustain and make you a fruitful result.

The documents might be: Proof of payment details, Bank statements, Any correspondence with the lender or financial institution




4.      Log-in to CIBIL:

With all the supporting documents log-in to official website of CIBIL. Then Log-in to your portal by filling up required details (user-id & password) and providing the OTP send to registered mobile number.

5.      Go to dispute section:

 Once you have entered in to CIBIL portal, go to the “Credit Report” section. Find and select the option for “Raise a Dispute”.

6.      Select the issue and raise a dispute

Choose the particular section against which you want to raise a dispute. Then select the type of dispute you want to raise. This includes inaccuracies in your personal details, account information, or loan records and credit cards. Also submit the supporting details about the specific error or discrepancy (if required).

7.      Complete the Dispute process:

Complete the online dispute process by providing the details of the issue and your bank account details for a compensation fees refund.

8.      Submit Dispute

Review the information carefully that you’ve entered to complete the dispute process was true and correct. Then submit the dispute form.

9.      Get the confirmation

After submitting the dispute form, you will receive a confirmation in your registered email or mobile number from CIBIL as an acknowledgement receipt of your dispute details and dispute id. This will include a reference number for tracking the status of your dispute.

 

10.  Follow up the dispute status:

CIBIL typically takes 30-45 days to resolve disputes but, you can follow up the dispute status anytime by logging in to your CIBIL portal, generally, CIBIL investigates the issue with the concerned financial institution and try to resolve your issue at the earliest, only after getting confirmation from that financial institution.

 

11.  Review the result

Once CIBIL completes the investigation process, CIBILwill update your credit report with the corrected information or provide an explanation if the dispute was not rectified. Review your latest report to ensure the issue has been resolved.




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