What is CIBIL Dispute - How to Report and Resolve Online?

A CIBIL score is a three-digit numeric value that determines your credit rating based on your credit history. It is a crucial factor that banks or lenders consider before approving a loan to you. Additionally, checking the details of your credit history in your credit report is essential; if you find any discrepancy, then you have the option to raise a CIBIL dispute and rectify the same.

A CIBIL dispute is any disagreement that you may have related to your CIBIL details. Errors in your account information, name, address and any unauthorised transaction reflecting in your ledger etc. can give rise to a CIBIL dispute. Resolving of such disputes is very important as these may impact your credit score negatively, keeping you from achieving a ‘good credit score. Now let’s see what are the categories into which we can bifurcate and understand CIBIL disputes better.

• Company/Account Details: Company name, Company’s registered address, branch address, telephone nos., PAN of the company, legal constitution, credit type, sanction date, asset classification, current balance in the account, bank remarks, status, suit filed status and suit amount etc.

• Personal Information: Outdated correspondence details, contact number, address, etc.

• Non-authorised loans/credit cards: Such entries can significantly impact your CIBIL score negatively. Thus, it is important that you raise such unidentified loans or credit cards at the earliest.

• Ownership: If a particular account mentioned in the company’s credit report does not belong to it, the dispute can be raised as the ownership dispute.

• Duplicate Account: In the case of repetitive appearance on the same account is seen in the CIBIL report, it is important to treat it as a duplicate account dispute and raise the same.

1. Company Dispute: If a company finds any discrepancy related to duplicate accounts, ownership mistakes and account details such as PAN, credit type and company name, then it can raise a CIBIL dispute. These errors may impact the company’s creditworthiness, resulting in low chances of loan approvals or credit-based professional partnerships.

2. Individual Dispute: An individual dispute may arise in the form of a discrepancy in the CIBIL report related to your personal details, like incorrect name or address, and issues related to duplicate accounts. Thus, while disputing inaccuracy in the CIBIL report, you must produce subsidiary documentation to correct the information. After you submit the dispute, your matter will be investigated by CIBIL. If it’s valid, then the error will be corrected.

If you find any dispute in your CIBIL report, then you can raise a CIBIL dispute online as soon as possible by visiting the official website of TransUnion CIBIL. Here are some steps mentioned that will help you raise a CIBIL dispute online.

● Visit the official website of CIBIL

● Click on ‘Existing User’, select ‘Individual’ or ‘Businesses’ as per your eligibility and log in with your credentials

● After login, select ‘Credit Reports’ and go to ‘Dispute Centre’

● Click on ‘Dispute an item’

● Fill in the CIBIL dispute resolution form with your required details

● Click on the ‘Submit’ button

Apart from the online process, you can also choose to file a dispute offline. You can write to TransUnion CIBIL about your dispute and send it to the postal address mentioned below.

TransUnion CIBIL Limited,

One World Centre,

Tower 2A, 19th Floor,

Senapati Bapat Marg,

Elphinstone Road,

Mumbai – 400 013.

● The disputed fields will be categorised as ‘Under Dispute’ status

● As per your dispute type, CIBIL verifies and discusses the details with lenders

● If the dispute is accepted by lenders, then changes will be done by CIBIL and the ‘Under Dispute’ status will be removed

● Also, you will receive the dispute updates on your registered mobile number

● CIBIL dispute resolution processing time takes around 30 days