How to remove Written-off loan from CIBIL report?

 

To remove written-off loan from CIBIL (Credit Information Bureau India Limited) report can be a bit challenging, as these entries are typically there to reflect the history of your credit behavior. 

However, there are steps you can take to address inaccuracies or potentially improve your credit profile:

 

1. Review Your CIBIL Report: first step to remove written-off loan from CIBIL you must obtain a copy of your CIBIL report to ensure that the written-off loan is reported correctly. Sometimes errors can occur.

 

2. Verify Details: Check all the details related to the written-off loan. Ensure that the account number, loan amount, and the status reported are accurate.

 

3. Dispute Incorrect Information: If you find any inaccuracies, you can file a dispute to remove the written-off loan fromCIBIL. You can do this by visiting the CIBIL website and following their process for disputing incorrect information. You'll need to provide supporting documents to substantiate your claim that the written-off loan was paid entirely.

 

4. Contact the Lender: Reach out to the lender who reported the loan as written-off. If there was a mistake or if you have settled the loan in full, ask them to update their records with CIBIL. They may need to provide a "No Dues Certificate" or similar documentation.

 

5. Request a Revision: If the loan was written off incorrectly or prematurely, you can request the lender to update the status. Once they update their records, CIBIL will reflect the corrected status.

 

6. Settlement or Rehabilitation: If the written-off loan was settled or if you’ve come to an agreement with the lender, ensure that this is reported correctly. A settled loan might still reflect negatively, but it’s better than an unresolved written-off status.

 

7. Seek Professional Help: If you’re struggling with the process, consider consulting with a credit counsellor or financial advisor who specialises in credit report issues.

 

Remember that a written-off loan will generally remain on your credit report for a lifetime unless any steps are taken to remove it, but taking these steps can help ensure that your report is accurate and that any errors are corrected.