In today’s credit-driven world, maintaining an accurate CIBIL Score is crucial. But what if there are errors in your report? Do not fret! You have the right to raise a dispute with CIBIL to get them rectified. Let us walk through how to raise a dispute and the types of disputes that may come up so you can navigate the realm of CIBIL disputes like a pro.
Ways to raise a dispute with CIBIL
Raising a dispute with CIBIL is a quick and straightforward process that can be completed in a matter of minutes, provided you follow the right steps:
- Visit the official CIBIL website: Navigate to the official CIBIL website and use your CIBIL login to access your account. Locate the credit reports section and click on ‘Dispute an Item’.
- Complete the dispute form: Fill in the dispute form provided carefully with accurate information. It is important to be precise to avoid delays in the resolution process.
- Submit your dispute: Once you complete the dispute form, hit the submit button to officially raise a dispute.
Types of disputes that may arise with CIBIL
There are various kinds of disputes that can rear their heads in your CIBIL Reports. These can range from minor discrepancies to more substantial issues:
- Personal details disputes: Small issues like incorrect names, addresses, or contact information can seem minor, but they can still impact your creditworthiness.
- Account status disputes: Sometimes, your report might show an account as 'delinquent' or 'closed' when it is not the case. It is essential to swiftly resolve these issues to prevent adverse effects on your credit score.
- Ownership or type of credit account disputes: Imagine your report showing an account that you have never heard of. This type of dispute pertains to discrepancies in the ownership or classification of credit accounts, and it is crucial to get it sorted out to ensure an accurate representation of your financial history.
- Credit enquiries disputes: If you spot enquiries on your report that you did not initiate, it could be a red flag. Unauthorised credit enquiries can negatively impact your credit score, so it is vital to dispute them promptly.
Checking your CIBIL Report regularly is your first line of defence against these issues. Being proactive can help you spot these discrepancies early on and take swift action to correct them. If you are wondering how to do this effectively, consider signing up for the Bajaj Finserv Credit Pass. This unique CIBIL-powered subscription allows you to monitor your Credit Health Report in real-time by offering access to all your credit accounts and the factors that influence them in one place via a personalised credit dashboard. It also equips you with monthly CIBIL Score updates so you can immediately identify even the smallest changes to your credit profile.
Remember, you have the right to raise a dispute and ensure that your credit report accurately reflects your financial standing. So, if you spot something suspicious, do not hesitate – take action, raise that dispute, and get those discrepancies rectified.
