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Loan Rejections or Disputes related to cibil score – FAQ’s

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Loan Rejections or Disputes related to cibil score - cibil FAQ's

My loan has been rejected because of the defaults reported against my name in CIBIL records. How do I remove my name from the CIBIL’s defaulters list?

 

CIBIL cannot handle the default list of defaulters. We will credit the credit history of the members of creditors who report members. The decision to lend the loan is entirely dependent on the Credit Institution’s debt policy. In order to check your credit history in detail and to identify any variations/errors that reflect your name, you can know more about   Ways to improve your CIBIL Credit score in 2018?

 

 

What kind of inaccuracies can reflect on my CIBIL report?

 

Ownership

If some of your personal details belong to you or some or more or more accounts/inquiries in your CIR.

 

Personal details are incorrect

Credit Institutions Submit your credit account details along with your personal / contact/job information along with details such as name, address, birth date, pan, telephone number, income etc. CIBIL then creates these details based on your full credit profile. Therefore, it is important for you to update your credit institution every time since the information that is incorrect is misleading.

Incorrect account details

Credit companies typically submit data to CIBIL within a period of 30-45 days and may not be updated if your last payment is 45 days. This can lead to an incorrect current balance or overall over-the-counter image in your CIR. However, if the ‘Date Report’ associated with that account (date of submission of data by the lender) is more than 2 months old, you can increase the dispute, even if paid.

 

I have Closed / Paid off the accounts and they are still showing on my report. How do I update my CIBIL report?

 

According to the 2005 Credit Information Companies (Regulation) Act, CBIL cannot edit any information in the database without confirmation from the relevant credit institution. Credit companies submit data to CIBIL every 30-45 days and your CIRIL will not be updated on CIBIL records if your records are closed/paid to buy your CIR within 45 days of payment. Click here to check the updated status of your account.

 

Can CIBIL make a correction to the data or update / delete any information on the Credit Report?

CIBIL cannot directly change your credit information report (CIR). Change Credit Institution can only update and update your CIR.

 

My report is incomplete. Can CIBIL add information to my report?

CIBIL cannot directly add any information to your credit information report (CIR). The information reported by us through Credit Institutions (CIs) is available on your CIR. This issue is with CIs to report complete and precise data to CIBIL. CIBIL’s responsibility is perfect for updating CIB’s responsibilities correctly. Please contact your credit company to report the missing information to CIBIL

 

Can I submit a dispute without registering the department details? What can I do

If you do not have the credit you receive, some banks cannot resolve your dispute. Therefore, we have automated the process of gathering Branch details from you at the start of the dispute. Delivering the department details will lead to proper dispute, which will speed up the dispute process. If you do not have branch details, you have to contact the relevant credit institution.

 

Why can not I raise more than one dispute in a separate account/trial?

You can dispute the fields of ownership or account/inquiry.

If you dispute the ownership (not the account), then the other sectors will not be controversial.

If you dispute the field for a specific account/inquiry you own, the ownership is not controversial.

 

What did CIBIL do when I raised a dispute?

After you submit this dispute, CIBIL will verify internal controversy and send it to the relevant credit institution. Once the CII dispute responds to the request, CIBIL instantly changes the status (if applicable), and via email.

Click here to understand the conflict resolution policy.

 

How do I know my dispute status?

You will receive an email notification informing you of the status of the dispute request. If your dispute is approved and the controversial information is updated, we will send you your updated report. We will also create MyCIBIL account for you and share login details with an e-mail to monitor the status of your dispute and use other CIBIL services.

If you already have access to my CIBIL, the status of your dispute will also be updated under ‘Dispute Status’ tab (as indicated in the picture below).

If your dispute is approved, if the controversial information is corrected by a credit institution, you will be provided with a report available on their account.

 

Although I raised a dispute to correct information on my CIBIL report, I received a notification on why my credit company should be contacted, why?

 

CIBIL cannot change your Credit Information Report (CIR) to the credit institution’s authority. This rejected your dispute that CIBIL did not update the database data provided by the credit institution or credit company. You should contact the relevant Credit Institution (CI) directly for the relevant information or you can resume the dispute request and re-verify with the relevant CI.

 

Why not confirm the information with the CIBIL user before updating the report?

 

The information available on your CIR has been reported to CIBIL through Credit Institutions (CIs). Facts Asus with CIs to accurately inform CIBIL. CIBIL’s responsibility is perfect for updating CIB’s responsibilities correctly. If you find any data error in your CIR you can start a dispute resolution with us and we will get the errors that we have checked with the relevant CI. Any changes to be reflected in the CIBIL records to reflect on your CIR must be authorized by the respective CI.

 

If I’m not satisfied with the controversial results?

 

You can contact the relevant credit institution (CI) directly. Alternatively, you can start a dispute request again and we have verified with the relevant CI. Please note that we can not make any changes to your CIR without the relevant CI verification.

 

What is Consumer Dispute Receivers?

 

This is the value we provide for consumers who use a subscription product. Consumer Dispute Reverse is a special account of the account you’re adding from the pre-defined list. These reports are available in your report per year and will be displayed when your account is accessed by credit organizations / s or you.

Click here to learn more about – Queries to Make you Understand Your Credit Score and Credit Report Easier

 

I bought my report and will show a red band next to some sections? What was their purpose?

 

If you raise the issue, CIBIL will indicate that the relevant section in “conflict” with the red band and only after the dispute is closed.

I bought my report and will show a red band next to some sections? What was their purpose?

 

If you raise the issue, CIBIL will indicate that the relevant section as “conflict” with the red band and only after the dispute is closed.

 

What will happen if the CIIL does not resolve the dispute within 30 days?

 

Any information on the CIBIL database cannot be edited from the credit institution without confirmation. We have an automated process sending a daily reminder to the bank / CII until the dispute is resolved.

 

How long does it take to update the CIBIL information after the bank has responded to the controversy?

 

Any information on the CIBIL database cannot be edited from the credit institution without confirmation. We have an automated process sending a daily reminder to the bank / CII until the dispute is resolved.

Not more than 2 months has been updated to my account. What should I do

 

There are 2 reasons your account has not been updated:

 

The credit institution has not submitted your recent data to CIBIL
There is an ongoing dispute in your account
You may contact your credit institution directly and request appropriate action.

 

I contacted CI to update my account details, but what update did I get?

 

If you contact the credit institution directly to update your account in CIBIL records, you will have CI to send an update. You can contact your credit company to see the updated status of your account. Alternatively, you can click here to find the updated status of your account.

Refer below link:

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