How to raise an online dispute in CIBIL?

 

Raising an online dispute to the CIBIL (Credit Information Bureau India Limited) is a process that allows you to correct any inaccuracies or discrepancies, that is reported in your credit report. Here’s a step-by-step guide on how to raise an online dispute with CIBIL very easily:

 

1. Obtain Your Credit Report

Before you want to raise a dispute, you need to have a copy of your latest credit report. You can get a free credit report once a year from CIBIL as free or request one through their website any time after your free report if you pay the subscription fees.

 

2. Identify the Error

Download your CIBIL credit report and carefully review your credit report to identify any inaccuracies or discrepancies. This could include incorrect personal details like incorrect Name, Date of birth, PAN number, Voter Id number, E-mail Id, mobile number etc. or inaccurate account information like any negative status or payment inaccuracies of your loans and credit cards or maybe a loan or credit card that never belonged to you, or missing accounts.

 

3. Gather Supporting Documents

Collect all the supporting documents that can help substantiate your claim against the inaccuracy, such as:

- Proof of payment

- Bank statements

- Account statements

- Any correspondence with the lender or financial institution

 

4. Log in to Your CIBIL Account

After gathering all supporting documents visit official website of CIBIL. Then Log-in to your portal by filling up required details (user-id & password).

 

5. Navigate to the Dispute Section

Once logged in go to the “Credit Report” section. Find and select the option for “Dispute Resolution” or “Raise a Dispute”.

 

6. Select the Issue

Choose the section against which you want to raise a dispute. Then select the type of dispute you want to raise. This might include inaccuracies in personal details, account information, or loan records. Provide details about the specific error or discrepancy (if required).

 

7. Fill in the Dispute Form

Complete the online dispute form by providing detailed information about the issue and your bank details for a compensation fees refund.

 

8. Submit the Dispute

Review the information you’ve entered to ensure that the dispute was raised is true and correct. Then submit the dispute form.

 

9. Receive Confirmation

After submission, you should receive a confirmation in your registered email or notification from CIBIL acknowledging receipt of your dispute details and dispute id. This may include a reference number for tracking the status of your dispute.

 

10. Monitor the Status

You can track the status of your dispute through your CIBIL account anytime by logging in to your CIBIL portal. CIBIL typically takes 30-45 days to resolve disputes, during which they will investigate the issue with the concerned financial institution and try to resolve your issue at the earliest, only after getting confirmation from that financial institution.

 

11. Review the Outcome

Once the investigation is complete, CIBIL will update your credit report with the corrected information or provide an explanation if the dispute was not upheld. Review your updated credit report to ensure the issue has been resolved.

 

12. Follow Up if Needed

If the dispute is not resolved to your satisfaction, you may need to follow up with CIBIL or escalate the issue through their customer service.