Can I remove delay payment from CIBIL report?

 

Removing a delayed payment entry from your CIBIL report is not straightforward, especially if the delay is accurate. However, you can take the following steps to address inaccuracies or negotiate corrections:

 

1. Review Your CIBIL Report:

   - Obtain your CIBIL report from the CIBIL website.

   - Carefully check the report for any inaccurate information regarding delayed payments.

 

2. Contact the Lender:

   - Reach out to the lender or financial institution that reported the delayed payment.

   - Request a review of the entry, especially if you believe it is incorrect. They may provide you with a statement or a letter indicating that the delay was either corrected or should not be reported.

3. Raise a Dispute with CIBIL:

   - Log into your CIBIL account on their official website.

   - Navigate to the section where you can raise a dispute.

   - Submit a dispute form detailing the incorrect entry and attach any supporting documents (e.g., communication with the lender, payment receipts).

 

4. Monitor the Dispute Resolution Process:

   - CIBIL will forward your dispute to the lender for verification.

   - The lender will review the dispute and provide CIBIL with their feedback.

   - CIBIL will update your report based on the lender’s response, usually within 30 days.

 

5. Request a Correction from the Lender:

   - If the lender confirms that the delay was reported in error, they can submit a correction request to CIBIL.

   - Follow up with the lender to ensure they have taken the necessary steps to correct the information.

 

6. Seek proper Assistance if Necessary:

   - If you face challenges or the lender does not cooperate, consider consulting with a finance consultant for further assistance.

 

Additional Tips:

- Maintain Good Credit Habits: Regularly monitor your credit report, pay bills on time, and manage your credit responsibly to improve your credit profile over time.

- Keep Records: Maintain accurate records of payments and correspondence with lenders to support any claims or disputes.

 

While you might not be able to completely remove accurate negative entries from your credit report, addressing inaccuracies and improving your credit habits will help enhance your overall credit score in the long term.