How to write a complaint in CIBIL

 

Submitting a complaint is also a procedure of dispute so that you can remove or update inaccurate information mentioned in CIBIL (Credit Information Bureau India Limited), and this procedure has an extra benefit like attachment of supporting documents, elaborate the issue, rather than only raising a dispute to the CIBIL portal conventionally.

The detailed process of writing a complaint to CIBIL is discussed in detail below:

1.      Arrange your CIBIL report: The first step of this procedure is to arrange your latest CIBIL report, by which you can point out the inaccurate information reported in your CIBIL report. To get your latest CIBIL report, you should visit to CIBIL official website and after successfully logging in to the portal you can easily download your CIBIL report.

2.      Point-out inaccuracy: After getting the report, point out the wrong information, that is reported in your credit report.

3.      Arrange supporting details: It is advisable that you Arrange all the supporting documents as a proof against the inaccuracies mentioned in your CIBIL report. These supporting documents might be helpful to sustain as evidence that the information is absolutely wrong. These documents are likely the proof of payment details, bank statements, proof of your identity, or any correspondence with the lender or financial institution

4.      Go to CIBIL Official website: After the arrangement all the required documents, Go to the official website of CIBIL on the Internet.

5.      Go to the Complaint form: In the official website first click on “Support”, then follow this step-by-step procedure by going through “Click here to know your details” > “Click here” > Select “Consumer” / “Commercial” as per your report type > select the section for which you want to submit complain > click “Clicking here” > select “New Application” if you are doing complain for first time.

6.      Fill up complaint form: Now, fill up the complaint form by providing all the required details, and submit your words about the complaint.

7.      Attach documents: After filling up all the information, attach the documents like your KYC details, and supporting documents against the wrong information of your CIBIL report, and don’t forget to attach your latest CIBIL report. You can also attach any other documents if you want to.

8.      Provide your bank details: As per RBI guidelines, nowadays if you are doing any written complaint against CIBIL. Then, must share your bank details as if the lending institute cannot resolve your issue within 30 days, they should provide a compensation fee of Rs. 100/- per day count. So, along with your complaint documents it is necessary to provide your bank details also.

9.      Get the Confirmation: After successfully submitting your complaint, you will be notified by a “Service Request Number” against your complaint in CIBIL, it may also be sent to your registered E-mail Id. Keep it saved for further use purpose.

10.   Follow up the status: Next you should follow the status of your complaint, a regular reply from CIBIL will be sent to you in your registered E-mail.

11.   Review the results: Once CIBIL has completed all the investigation processes regarding the complaint you have submitted, they will remove the inaccurate information by updating it with corrected information or provide you an explanation if not rectified.

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.

How to check CIBIL report for free?

 

First, let’s understand why it’s important. Your CIBIL report is a detailed summary of your credit history and reflects your credit score, which is a three-digit number ranging from 300 to 900. 

This score is crucial for loan approvals, credit card applications, and sometimes even job opportunities. Regularly checking your CIBIL report ensures that all the information is accurate and helps you identify any discrepancies or fraud.

Steps to Check Your CIBIL Report for Free

·         Visit the CIBIL Website: Head over to the official CIBIL website at www.cibil.com. This is the starting point for accessing your free report.

 

·         Sign Up or Log In: If you don’t have an account, you’ll need to create one. Click on the “Get Your CIBIL Score” button, and you’ll be redirected to a page where you can sign up. You’ll need to provide details like your name, email address, and phone number, and create a password. If you already have an account, simply log in with your existing credentials.

 

·         Verify your authenticity: To verify your identity, CIBIL will send OTP to your registered email id and phone number. Try to use, your email and phone number, which you provide usually at the time of loan approval.

 

·         View Your Report: Once you’ve completed the verification process, your CIBIL report will be generated. You can view it online immediately. Take your time to review the report thoroughly.

What to Look For in Your Report

When you have your report, here are a few key things to check:

• Credit Score: This is the most crucial number. A score above 750 is considered good.
• Personal Information: Ensure your name, address, and other details are correct.
• Credit Accounts: Review your loan and credit card accounts. Make sure all the listed accounts belong to you and check the outstanding balances.
• Enquiries: This section shows who has checked your credit report. Too many enquiries can negatively impact your score, so ensure they are all legitimate.

What to Do If You Find an Error

If you spot any discrepancies in your report, it’s important to act quickly. CIBIL allows you to raise a dispute online. Simply go back to the CIBIL website, navigate to the dispute section, and follow the instructions to report the error. Correcting these errors can help improve your credit score.

Conclusion

Regularly checking your CIBIL report is a smart financial habit. It helps you keep track of your credit health, catch errors, and ensure you’re always in a good position when you need to apply for credit. The process is simple and free once a year, so take advantage of it and stay on top of your financial game.