How to Raise a CIBIL Dispute?

Your CIBIL score is a 3-digit number that indicates your creditworthiness. In India, four credit bureaus evaluate your credit history based on financial habits and prepare a credit report. 

TransUnion CIBIL is the organisation calculating the CIBIL score. Along with this score, you also get a CIBIL report. This report contains your personal details, previous and existing credit accounts and other information.

However, sometimes you may see errors in your cibil credit report. These errors can include spelling mistakes, closed loan accounts, or other incorrect details. To rectify these inaccuracies, you can raise a CIBIL dispute. You can raise a CIBIL dispute online for quicker resolution. Though, you have the option to raise it offline too by writing to TransUnion CIBIL Limited. To learn more about how to raise a dispute in CIBIL, read on.

What are CIBIL Disputes?

CIBIL dispute is a process of raising or filing a correction request online when you find any inaccuracy in your cibil report and want to rectify it. These inaccuracies may include incorrect bank data, transaction details, spelling issues, inaccurate email IDs, etc. You can start the process by filling up the CIBIL dispute form.

Once you submit the form, the credit bureau begins the dispute resolution process by contacting the Credit Institution (CI) with details about the disagreement.

Types of CIBIL Disputes

CIBIL dispute types depend on the entity you are registered as, a company or an individual. Here’s a look at CIBIL disputes under each category:

1. Company Disputes

As a company, raise a dispute in CIBIL if there are errors in either of the following details.

• Enterprise or Banking Information: If you find any mistake in your organisation’s name, ownership details or address, you can raise a dispute. Additionally, the company’s incorrect banking details can also be rectified under this.

• Account Duplication: If you notice that an account is recorded repeatedly in your report, fill out the form for a dispute raise in CIBIL.

2. Individual Dispute

As an individual, you can fill out a CIBIL consumer dispute form if you find the following inaccuracies in your credit report. 

• Personal Details: You may file a dispute if you find an inaccuracy in your personal details like name, contact number, email ID, PAN details, etc.

• Duplicate Account: If your account surfaces on your credit report more than once, fill out the form to raise CIBIL dispute online.

Steps to Raise CIBIL Dispute Online/Offline

You can raise a CIBIL dispute online or offline. If you find any error in your credit report by CIBIL, raise a dispute through either of the following modes.

1. Online Medium

a) Online Portal 

For an online CIBIL dispute, raise it by following the steps given below:

• Visit the official CIBIL website - https://www.cibil.com/

• Enter your credentials to log in

• Navigate to the ‘Dispute Center’ option under the ‘Credit Report’ tab 

• Fill in the form with the required information 

• Select the type of dispute you want to raise

• Re-check the details and submit the form

You will receive CIBIL dispute status updates on your registered contact details. Keep in mind that the CIBIL dispute resolution process can take up to 30 days.

b) Email ID

This is one of the most accessible ways to start the process of a CIBIL dispute. Raise online disputes by writing to them at info@cibil.com at any time. The customer support team will get back to you usually within two working days.

2. Offline Medium

Apart from the CIBIL online dispute form, you can choose an offline mode. Offline consumer CIBIL dispute mode includes writing to the credit bureau at their postal address. The postal address of TransUnion CIBIL is:

TransUnion CIBIL Limited, One World Center, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013

CIBIL Dispute Resolution Process

Here are the steps that are involved in the CIBIL dispute resolution process: 

• Click on ‘myCIBIL’ on the official CIBIL website.

• Log into your account 

• Navigate to ‘Credit Reports’ 🡪 ‘Dispute Centre’ 🡪 ‘Dispute Item’

• Fill in the form with mandatory details and click on ‘Submit’

After you submit the CIBIL score dispute form, here is what will happen:

• Contested fields will be labelled as 'Under Dispute’

• Depending on your dispute type, CIBIL discusses this with lenders 

• The lender may either accept or reject the disagreement

• If rejected, you receive an SMS requesting you to contact the CI

• If accepted, changes are implemented, and the ‘Under Dispute’ sign will be removed

• It takes up to 7 days to include the changes and up to 30 days to complete the whole CIBIL dispute resolution process

• Once the dispute is addressed, you receive an SMS on your registered mobile number

Concluding Comments

Your credit report, as an individual or a company, has a significant role in determining your eligibility for new credit. So, any inconsistency or inaccuracy can negatively affect your prospects of availing credit. 

Given this, you must raise a CIBIL dispute as soon as you come across any errors. To provide the best possible service, CIBIL offers a variety of ways to contact customer support. You can raise CIBIL disputes online or offline and get it resolved without any hassles.

To know more about the process and CIBIL score requirements to avail loans, visit Bajaj Markets. With lenders offering attractive loan interest rates, you can choose the right loan type that aligns with your financial requirements.