How to remove settled loan from CIBIL report?

 

To remove settled loan from CIBIL report involves a few steps to ensure that your credit report is accurate and up-to-date. Here’s a step-by-step guide to help you through the process:

 

 1. Obtain Your CIBIL Report

   - to remove settled loan from CIBIL, first get your CIBIL  report from

 CIBIL  through their website or a credit bureau service.

 

 2. Check for Errors

   - Review the report carefully to confirm that the loan in question is marked as "settled" and ensure that all other details are accurate.

 

 3. Gather Documentation

   - Collect all relevant documents related to the settled loan, including the loan settlement letter, No Objection Certificate (NOC), and any correspondence with the lender.

 

 4. Contact the Lender

   - Reach out to the lender (bank or financial institution) that issued the loan. Request them to update the status of the loan in their records and inform CIBIL to remove settled loan from CIBIL. If it is not reflected properly.

 

 5. Raise a Dispute with CIBIL

   - If the lender confirms that they have updated their records but the report is still incorrect, you can file a dispute with CIBIL. Here’s how:

     - Online: Visit the CIBIL website and use their online dispute resolution tool. Provide details of the discrepancy and upload the supporting documents.

     - By Post: Send a written dispute letter along with the supporting documents to CIBIL’s address.

 

 6. Follow Up

   - After submitting the dispute, follow up with CIBIL to check the status of your dispute resolution. They typically take a few weeks to investigate and resolve disputes.

 

 7. Review the Updated Report

   - Once CIBIL has processed your dispute, obtain a new copy of your credit report to ensure that the error has been corrected.