How to remove fake loan from CIBIL Report?

 

If you’ve spotted a fake loan or any erroneous information on your CIBIL report, it’s important to address it promptly to avoid any impact on your credit score and financial reputation. Here’s a step-by-step guide to help you resolve this issue:

 

1. Get your CIBIL report: To remove fake loan from CIBIL first, ensure you have a copy of your CIBIL report that shows the fake loan. You can get your report from the CIBIL website or through any credit monitoring service.

 

2. Verify the details: Double-check the details of the fake loan, such as the loan account number, the lender's name, and the amount. Ensure that it truly doesn’t belong to you and that there’s no chance it could be a legitimate loan you might have forgotten about.

 

3. Raise a dispute:

   - Online Dispute: Go to the CIBIL website and log in to your account. Look for the option to raise a dispute or challenge incorrect information. Fill out the necessary details, including the nature of the dispute and supporting documents, if required.

   - Written Dispute: Alternatively, you can send a written dispute to CIBIL. Include a clear explanation of the issue, any supporting documents, and a copy of your CIBIL report highlighting the error. Send this to the CIBIL address provided on their website or your report.

 

4. Provide evidence: If you have any documents or evidence that prove the loan is fake or not yours, include these with your dispute. This could be anything from a police report (if applicable), letters from the lender (if you contacted them), or any other relevant documents.

This evidence will help you to remove fake loan from CIBIL very easily & efficiently.

 

5. Contact lender: If you can identify the lender associated with the fake loan, contact them directly as the lender can help you to remove fake loan from CIBIL. Inform them of the mistake and provide any evidence you have. They might be able to help in rectifying the error with CIBIL.

 

6. Follow up the post process: After submitting your dispute, follow up regularly with CIBIL to check the status. They typically investigate the dispute and update your report within 30 days.

 

7. Check report again: Once CIBIL has resolved the dispute, obtain a new copy of your CIBIL report to ensure the fake loan has been removed and that your report is accurate.

 

8. Prevent future issues: Consider setting up alerts or monitoring services to keep an eye on your credit report regularly to catch any potential issues early.

 

If the issue persists or you encounter difficulties, you may also want to seek assistance from a credit consultant specializing in credit disputes.