TransUnion CIBIL is India’s oldest credit information company (credit bureau) and it collects data from over 5000 financial institutions across India to prepare credit reports and generate credit score/credit rank of individuals/commercial borrower. The Credit Information Report for individuals and the Company Credit Report for commercial entities play a crucial role in ensuring access to any form of credit from financial institutions. While both TransUnion CIBIL and lenders take various measure to ensure accuracy of data contained in credit reports, in rare cases, errors in credit reports do crop up. In such cases, identifying and rectifying such errors helps maintain a good credit score as well as a clean credit history. The process of rectifying errors in a credit report is officially termed as a CIBIL dispute. Read the following sections to know how you can raise a dispute with TransUnion CIBIL either online or offline.
What are the different Types of CIBIL Disputes?
The type of CIBIL disputes can be broadly classified into individual and company disputes, which in turn have the following sub types.
- Individual/Consumer Disputes: These refer to the disputes that arise due to inaccuracies in an Individual’s Credit Information Report (CIR). These disputes are further classified into the following sub-types:
- Ownership Related: When one or more accounts/ enquiries made on your report do not actually belong to you.
- Incorrect Personal Details: When there is an error in your personal information such as your name, address, PAN, date of birth, etc.
- Inaccurate Account Details: Since member financial institutions submit their data in a span of 30-45 days, your account details can be outdated if the lender missed to report the updated status. As a result, there may be discrepancies in key details such as the current account balance, amount overdue, current account status, etc.
- Company Disputes: These can be raised on the basis of errors in Company Credit Information Report (CCR) and can be divided into the following sub-types.
- Incorrect Company/ Account Details: When there is an error in company name, address, telephone numbers, current account balance, bank remarks, etc.
- Ownership Related: When a specific account in the company’s CCR does not belong to the entity or the entire report is inaccurate.
- Duplicate Account: When the same account is being reflected multiple times in the Company Credit Report.
Also read about CIBIL Score.
How to Raise a Dispute Online on the CIBIL Website?
In order to streamline the process of rectifying credit report errors, TransUnion CIBIL has introduced the online Consumer Dispute Resolution process for individuals. Following is the step-by-step guide to raise a dispute online on the CIBIL website with respect to correcting errors in your Credit Information Report.
Step 1: Visit the myCIBIL section of the official TransUnion CIBIL homepage and enter your credentials to log in.
Step 2: Once logged in, go to the “Credit Reports” section and navigate to the “Dispute Center” and then click on “Dispute an Item”.
Step 3: Next, the following online dispute form will appear. Fill out the form by entering your personal and contact details, then click “Submit”.
Step 4: On the next page, you can now select the section of your CIBIL Report about which you want to raise the dispute. If the dispute is related to any error in ownership details or duplicacy of information, then select the relevant type from the drop down menu. If the CIBIL dispute is related to inaccuracies in data, then you will be allowed to enter details into the disputed field. Once you have entered the details, just click on “Submit” to raise the CIBIL dispute online.
- Company Dispute Resolution
If there is any discrepancy on your company’s CCR (Company Credit Report), then follow the below mentioned steps to raise a CIBIL company dispute online.
Step 1: Visit the “Company Dispute Resolution Portal” on the TransUnion CIBIL website and click on “Raise an Online Dispute”.
Step 2: The following online commercial dispute form will appear. Enter your details along with the reason for raising the dispute in this dispute form.
Step 3: Finally, enter the captcha code and click “Submit” to report the error in the report and start the company CIBIL Dispute resolution process.
How to Raise a CIBIL Dispute Offline?
If you want to raise a CIBIL dispute offline for any error in your credit information report or your company credit report, you can write to TranUnion CIBIL at the following address:
TransUnion CIBIL Limited,
One Indiabulls Centre, Tower 2A, 19th Floor,
Senapati Bapat Marg, Elphinstone Road,
Mumbai – 400 013
NOTE: It is advised that the CIBIL dispute be raised online for quicker resolution and greater convenience.
Process of CIBIL Dispute Resolution
Once you complete the process of submitting a dispute online or offline, the following steps are taken by CIBIL for the resolution of the dispute.
Step 1: CIBIL verifies the disputed information internally and may convey details to the concerned lender based on the type of dispute.
Step 2: If the lender accepts the dispute, then corrections are made by CIBIL, with updated correct details showing up on subsequent credit report.
Step 3: After the dispute is resolved, the “Under Dispute” tag is removed from the disputed field under the relevant sections of your credit report.
Generally, it takes around 30 days for CIBIL to resolve a dispute. However, it may take longer in certain cases depending on the involvement as well as time taken by the concerned financial institution.
Also read about CIBIL Credit Report.
Frequently Asked Questions (FAQs)
Q1. How can I check CIBIL Credit Report for free?
Ans. You can check your CIBIL Credit Report for free on the Paisabazaar.com website. Once you sign up for this service, you will also receive monthly updates of your credit report from CIBIL and other credit bureaus in India for free.
Q2. One of my closed/ paid off account is still showing on my credit report. How can I update my report?
Ans. You have to wait for around 45 days from the date of the closure of your account to get updated details reflected in your credit report. This is because CIBIL does not modify your credit report without confirming with the relevant financial institution and this process usually takes 30-45 days to complete. That said, if even after 45 days, the report is updated, then you should raise a dispute online as discussed in the previous section.
Q3. How can I raise a dispute online with CIBIL for inaccuracies in my Credit Information Report?
Ans. You can raise a dispute online with CIBIL by logging into myCIBIL portal and navigating to Credit Reports > Dispute Center > Dispute an Item to report any inaccuracies in your Credit Information Report.
Q4. What is the turn-around time for resolution of CIBIL disputes raised online on the CIBIL official website?
Ans. Generally, the turn-around time for resolution of disputes raised online on the CIBIL is up to 30 days.
Q5. Can I raise a CIBIL dispute offline?
Ans. Yes, you can raise a dispute offline at CIBIL by writing to TransUnion CIBIL Limited, One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013.
Q6. How can I submit a dispute for errors in Company Credit Report?
Ans. You can fill the CIBIL Commercial Dispute Form to submit a dispute online for errors in your CIBIL Company Credit Report.
Q7. My CIBIL Report is incomplete. Can CIBIL help by adding the missing information?
Ans. No, CIBIL cannot add the missing information as it is responsible for only accurately updating the information provided by various credit institutions in India. Hence, you will have to contact the concerned credit institution to report the missing information to CIBIL.
Q8. What steps does CIBIL take when a dispute is raised?
Ans. CIBIL verifies the submitted dispute internally and routes it to the relevant financial institution. When the institution responds and conveys the applicable changes, CIBIL makes the required updates in your credit report.
Q9. How can I check the status of my dispute raised with CIBIL?
Ans. CIBIL sends an automated email notification every 7 days to convey the updated status of your dispute.
Q10. What to do if I am not satisfied with the results of CIBIL dispute resolution process?
Ans. You can do one of the following when you are not satisfied with the results of CIBIL dispute resolution process:
- Contact the concerned financial institution directly, or
- Once again raise a dispute so that CIBIL can re-verify it with the relevant credit institution