cibil dispute

CIBIL Dispute – How To Raise And Resolve? Step By Step Guide

If you have ever applied for and availed of a loan for any financial requirement, then you must have heard of the term CIBIL. CIBIL score or credit report is a common criterion for the approval of any type of loan. This score is checked by the loan provider or moneylender to ensure that you are capable of repaying the amount you wish to borrow and are also willing to do so. Oftentimes, there could be an error in your CIBIL score, your credit report or some dispute that arises despite making on-time payments and fulfilling all requirements. Such disputes can be resolved by the applicant online or offline. There is a step-by-step procedure for the same which can be followed by the affected party for CIBIL dispute resolution. In this article, we will be sharing with you the types of disputes, how to raise a dispute, how to fill the CIBIL dispute form, and also be answering the commonly asked questions related to the same. By the end of this article, you will be able to understand the various errors in a CIBIL report, how to resolve your issues and the procedure for the same. 

Before we take a look at what a CIBIL dispute is or the CIBIL online dispute form or the steps to raise a dispute, let us understand in brief what the CIBIL score is and the purpose of a CIBIL score. The TransUnion CIBIL Limited was previously known as the Credit Information Bureau India Limited. This is a credit rating agency that is defined on the official CIBIL website as follows: “The bureau provides information and tools for gaining a clear understanding of their credit history and financial reputation, and guarding against the theft of personal information and potential fraud.” The CIBIL score assigned by The TransUnion CIBIL is a three-digit number that reflects previous credit-related activities of the person or company. The CIBIL score summarises the client’s credit history and credit record. CIBIL score is assigned on a scale of 300 to 900, where a score above 750 is considered a good score. The higher the CIBIL score of a person or company is, the better their chances of getting a loan approved. 

Now that we know about CIBIL score and credit report, we will look at the different errors in a CIBIL report and how a CIBIL dispute raised is resolved. 

Table Of Contents

In this article about CIBIL dispute, You can read about the various types of errors, how an issue is raised, how the CIBIL dispute form can be filled and much more. The following are the topics, you can read about in-depth:

  • What is Loaney?
  • Errors found in CIBIL report
  • Types of CIBIL dispute
  • How to raise a CIBIL dispute online?
  • How to raise a CIBIL dispute offline?
  • How to resolve a dispute?
  • Frequently Asked Questions related to CIBIL dispute

By the end of this article, you will be able to raise a CIBIL dispute and fill a CIBIL dispute form. 

What Is Loaney?

In today’s fast-paced world, every service and facility can be availed online. Similarly, personal loans can be availed of online from the comfort of your home, using a smartphone or laptop or any other device. While various platforms offer personal loans online, you must choose a reliable platform to avoid any frauds and scams. Loaney is a trusted online platform for personal loans in India. This platform offers small cash loans of up to Rs. 15,000 instantly. You can get a personal loan for a low-interest rate and a shorter repayment tenure. The best feature is that you will be able to avail of a loan without pledging collateral or presenting a guarantor. The paperwork required and eligibility criteria are also simple. Loaney does not check your CIBIL score before approving your loan application. 

Loaney offers personal loans and ensures client data confidentiality. Also, all the procedures are transparent and there are no hidden charges. 

Errors Found In CIBIL report

Before you create a CIBIL dispute email ID for raising an issue or look up the steps for filling the form, you must know the errors that can be found in the CIBIL report. There can occur major or minor disputes in your CIBIL report. 

The minor errors in a CIBIL report include errors in the name, the spelling of the name, date of birth and so on. The major errors in your CIBIL report include an outstanding credit balance that was issued by someone else or a wrongly credited loan or any other similar error. 

The following are some of the common errors in the CIBIL report for which the CIBIL dispute raised can be resolved by the credit agency: 

  • Account balance incorrect
  • Inaccuracy in personal information
  • The current balance is not updated
  • Overdue incorrect
  • Outstanding loans
  • Duplicate Account

CIBIL disputes can be resolved by creating a CIBIL login on the official website and following the mentioned steps. In the further sections of this article, we will be sharing with you the step-by-step guide to raising a dispute. 

Types Of CIBIL Dispute

Let us take a look at the different types of CIBIL disputes that might arise in your credit report. Knowing the type of dispute helps you get on to the resolution process faster. CIBIL disputes can arise in a company’s CIBIL reports and also an individual’s CIBIL report. The following are some of the types of dispute CIBIL might be consulted for: 

Company Disputes

  • Fault in the company details or the account details: The details of the company like their name, address, PAN number or other account details like credit type or sanction amount could be disputed.
  • Ownership issues: This type of dispute arises when the mentioned company account is not in your name.
  • Issues of duplicate accounts: This dispute arises if the same account is being repeated over in your credit report.
  • Incorrect Fields: There are certain other details related to the company where there can be an error. The following are the details on which you can raise a dispute:
    -Company Name
    -Legal Constitution
    -PIN Code
    -Company’s Registered Address
    -Company’s Branch Address
    -Telephone Number
    -PAN details
    -Names of the Promoter, Director, Proprietor or Partner

Individual Disputes

  • Personal details: Personal details like the name or the address of the client may be wrong. A dispute can be raised for such errors.
  • Duplicate account issues: The client’s account might be present twice and hence a dispute can be raised by filing a CIBIL dispute form

Disputes cannot be raised in case any of the following details are wrong or have an error:

  • CIBIL dispute control number
  • Name of member
  • Account Number
  • Enquiry Date
  • Reported Date

For CIBIL dispute resolution, you can follow a few easy steps online or offline and get your issues sorted. In the following sections, we will be discussing the steps for raising such issues and getting them resolved for a smoother loan borrowing experience in the future. 

How To Raise A CIBIL Dispute Online?

Like most other financial services, even CIBIL disputes can be raised and resolved online. You can easily fill the CIBIL online dispute form for the same. In this section, we will discuss in detail the steps for raising CIBIL disputes. You can follow these steps for raising and resolving CIBIL disputes online. 

  • Step 1: Visit the official CIBIL website and click on “My CIBIL”.
  • Step 2: Create a CIBIL login or log in to your existing account.
  • Step 3: Click on “Credit Reports”.
  • Step 4: Click on “Dispute Centre” and select the option “Dispute an item”
  • Step 5: Fill in the CIBIL dispute form with accurate contact details and click “Submit”. While filling out this form, you must keep your CIBIL dispute control number handy.
  • Step 6: Choose the section of your CIBIL report for which you wish to raise the dispute. 

When raising a CIBIL dispute for a company, You can follow these steps:

  • Step 1: Click on the “Company Dispute Resolution Portal”.
  • Step 2: Select the “Raise an Online Dispute” option.
  • Step 3: Enter the required details along with the reasons for raising a dispute. 
  • Step 4: Enter the provided Captcha code and select “Submit”.

If you are wondering about how to fill CIBIL dispute form or how you can keep a check on the status of the dispute raised, you can find answers to these by visiting the website. You can fill in the form using personal details and contact details as required. The official website has an option where you can check the CIBIL dispute status as well. 

This is how you can raise a CIBIL dispute online using your login details or create a login with a CIBIL dispute email ID. In the upcoming section, you can read about how this dispute can be raised offline as well. 

How To Raise CIBIL Dispute Offline?

In the previous section, we looked at how any possible dispute CIBIL-related could be raised online by using the official CIBIL website. While online facilities for all kinds of services and complaints have made procedures faster and more convenient, some people still prefer the offline method more. In this section, we will be sharing with you the offline method of raising a CIBIL dispute.

To raise a CIBIL dispute offline, you must write to the TransUnion CIBIL at the following address:

TransUnion CIBIL Limited,

One Indiabulls Centre, Tower 2A, 19th Floor,

Senapati Bapat Marg, Elphinstone Road,

Mumbai – 400 013

Now that we know the methods of how to raise CIBIL disputes both online and offline, let us take a detailed look at how the CIBIL dispute is resolved. 

How To Resolve A Dispute?

After you fill in the CIBIL dispute online form, you will be assigned a dispute ID and CIBIL will further look into the matter and resolve your issue. You can log in to the official website and also check your CIBIL dispute status using your dispute ID. The process of a CIBIL dispute resolution takes place in the following steps:

  • Step 1: CIBIL will first verify the details of the dispute provided by you. This field will be tagged as “Under Dispute”
  • Step 2: The details will then be conveyed to the concerned financial institution or moneylender depending on the type of dispute. 
  • Step 3: The dispute is taken up by the moneylender and CIBIL and the error if accepted is rectified.
  • Step 4: the updated details will be reflected in your next report and the “Under Dispute” tag is also removed. 
  • Step 5: You will be notified via SMS or email on your CIBIL dispute email ID regarding the rectification and resolution of the dispute.

The resolution of a CIBIL dispute can take up to 30 days. 

Frequently Asked Questions

Before we conclude, we have answered a few commonly asked questions related to the CIBIL dispute for your convenience.

1. What is the control number in the CIBIL dispute form? 

A control number is a 9-digit number indicated on your CIBIL report. This is a unique number that is renewed every time a credit report is generated. This number is important while raising a dispute.

2. How do I raise a dispute on my credit report? 

You can raise a dispute on your credit report using the official CIBIL website and filling out the CIBIL online dispute form. 

3. Can you dispute your credit score? 

No. While you can raise a dispute for multiple errors and issues, you cannot dispute your credit score. 

4. What happens when you win a credit dispute?

When you win a credit dispute, you are notified via email or SMS, and the updated information is reflected in your next credit report. 

With this, we conclude our guide on how a CIBIL dispute can be raised and resolved. We hope this article has helped you understand better the types of CIBIL disputes and how you can raise a dispute online as well as offline.