CIBIL report errors should be resolved at the earliest to avoid any dip in the CIBIL score and maintain a healthy credit profile. Any delay in the rectification can lead to a low or poor credit score. This could eventually result in outright rejection of your loan or credit card application. Let us further discuss some of the common CIBIL report errors and how to rectify CIBIL score/report online:
Types of CIBIL Report Errors and Tips to Resolve
Given below are a few common CIBIL report issues and tips for CIBIL report/CIBIL score correction online:
a) Errors in Personal or Account Details
You should regularly check your CIBIL report (once in a month) for clerical or typo errors related to your name, address, age, date of birth and PAN Card details. Duplication of account in the name of the applicant is another common error that negatively impacts the credit score.
b) Incorrect Balance or Outstanding Loans
The actual amount due and the outstanding balance has to match in order to have an accurate understanding of availed credit facilities. Information related to outstanding loans should be correct, as it helps in calculating the credit score. Any of these errors should be reported immediately to avoid any dip in the CIBIL score or loan application rejection.
- Get Free CIBIL report from Paisabazaar and check for all the possible errors in the report
- Once you spot the error(s), you can raise a dispute by filling up the online CIBIL dispute resolution form
- CIBIL will verify all your details and all the possible errors will be corrected in your updated CIBIL report