How to Resolve CIBIL Dispute?

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I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :20/06/2019

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND CONDITIONS
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To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

EQUIFAX TERMS AND CONDITIONS
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I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 20/06/2019

EXPERIAN TERMS AND CONDITIONS
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YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 20/06/2019

CRIF HIGH MARK TERMS AND CONDITIONS
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This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

Name : Date :20/06/2019

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Your CIBIL Score is not just a set of numbers; it is a measure of your credit health and allows you to avail credit from banks and financial institutions. Sometimes, there may be discrepancies in your credit report which can be detrimental for your credit score and loan eligibility. So whenever such incorrect information or CIBIL Dispute arises, it is advised to file a resolution request with CIBIL so that it does not create problem with your finances.

Disputes may arise with respect to the CIBIL Score or CIBIL Rank. Incorrect information in a CIBIL Report or a Company Credit Report is also classified as dispute and can be resolved accordingly. But before learning the CIBIL dispute resolution process, we must understand the type of discrepancies that may arise.

Types of CIBIL Disputes

We can broadly categorize the disputes into two parts: Individual Disputes and Company Disputes.

Individual Disputes

Inaccuracies in an Individual’s CIBIL Report can be related to his/her personal details and issues related to duplicate accounts. Personal details include incorrect filing of name or address. For example, Sumit Malhotra could be misspelt as Sumit Mehrotra. Sometimes a single loan account may be reflected in your CIBIL Report twice, thus reducing your overall score. Such disputes can be resolved by filling the CIBIL dispute form.

Company Disputes

Discrepancies in a Company Credit Report can be referred to as a Company Dispute. Such disputes may arise in the form of incorrect ownership details, existence of duplicate accounts, data inaccuracies and the like. The authorised signatory of the company can initiate dispute resolution by filling the CIBIL dispute form.

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Information that cannot be rectified through the dispute resolution mechanism includes account number, member name, enquiry date and control number.

How to Raise Dispute in CIBIL?

Any dispute in the CIBIL Report or Company Credit Report can be notified by raising a CIBIL dispute resolution request. Those who have registered on CIBIL can directly raise a dispute by logging into myCIBIL. Follow the steps given below:

  • Login to myCIBIL
  • Click on Raise a Dispute tab
  • Select the relevant section that you want to dispute
  • Select your account
  • If you are disputing over ownership or duplicate information, select the same on ‘Dispute Type’ and submit the details of the dispute in brief.
  • If you are disputing a data inaccuracy, enter the correct value for the disputed field and submit.

Alternatively, the users can also fill out the CIBIL online dispute resolution form directly without logging in to myCIBIL. Individuals can file the same by filling this form- https://www.cibil.com/dispute/. For changes in CCR, the Online Commercial Dispute Form needs to be filled. You can get the form here- https://www.cibil.com/online/file-company-dispute.do.

Online dispute resolution is the fastest way to correct the discrepancies in your CIBIL Report. However, one can also raise a CIBIL dispute by writing a letter addressed to their registered office in Mumbai.

TransUnion CIBIL Limited,
One Indiabulls Centre,
Tower 2A, 19th Floor,
Senapati Bapat Marg,
Elphinstone Road, Mumbai – 400 013

CIBIL Dispute Resolution Process

Once the dispute is raised by users by filling out the online dispute resolution form, the process starts. The following steps are taken by CIBIL:

Step 1- Dispute is submitted, either through online channel or through letter.
Step 2- Dispute fields are marked in the relevant section with the tag ‘Under Dispute’.
Step 3- Based on the type of dispute, it is sent to the concerned credit institution for rectification.
Step 4- If the lender rejects the dispute, the request is cancelled and no changes are made in the CIBIL Report or Company Credit Report (CCR).
Step 5- If the disputes are accepted by the lender, changes will be made in the CIBIL Report or CCR.
Step 6- The ‘Under Dispute’ tag created in Step 1 is removed and new report is furnished to the user.

The total turnaround time for this process is 30 days.

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FAQs about CIBIL Disputes

1- What classifies as a CIBIL Dispute?

Inaccuracies in CIBIL Report (Individuals) or Company Credit Report (Commercial) are considered as CIBIL Dispute. These can be related to ownership information of the company, personal details, address, contact information, etc. However, information such as account number, member name, enquiry date and control number cannot be rectified by raising a CIBIL Dispute.

2- How to resolve CIBIL dispute?

The quickest way to resolve a CIBIL Dispute is by filling the CIBIL online dispute resolution form. The links are given below-

3- Can I raise a CIBIL dispute offline?

Yes, it is possible to raise a dispute by writing a letter to CIBIL addressed to its registered office in Mumbai. Make sure that you enter all important details such as the report order number, transaction ID, etc. CIBIL registered office address is-

TransUnion CIBIL Limited,
One Indiabulls Centre,
Tower 2A, 19th Floor,
Senapati Bapat Marg,
Elphinstone Road, Mumbai – 400 013

4- How long does it take for CIBIL to resolve a dispute?

The turnaround time for a CIBIL dispute resolution is 30 days.

5- What if I am not satisfied with the resolution of my dispute?

In case you are not satisfied with the resolution, a new dispute resolution request can be raised along with the details of previous request.

6- After the dispute resolution, how long does it take for CIBIL to furnish my new CIBIL report?

It usually takes up to 7 days for incorporating changes in your CIBIL Report.

7- How to check CIBIL dispute status?

If you already have access to myCIBIL, you can check the status by loggin into it and going to the ‘Dispute Status’ section. However, if you do not have the access, CIBIL sends you email notifications regarding the status of your dispute. A myCIBIL account is also created and the login details are mailed to you so that you can check the status of your dispute regularly.

When you successfully raise a Company Dispute, a unique ID for the dispute will be generated which can be used to track CIBIL dispute status. You can call CIBIL helpline for the same. The consumer helpline number is +91-22-6638-4600.

8- How will I know that my dispute has been resolved?

An SMS will be sent to your registered mobile number stating that the dispute has been resolved.

9- I have already closed a loan account but it is still reflected in my CIBIL report. Should it concern me?

Yes. You must confirm the same with your credit institution. CIBIL is not authorised to make changes in the credit report unless relevant details are furnished by the lender.

10- Can I raise several disputes for the same report at a time?

No. This facility is not yet provided by CIBIL. You can only rectify one field at a time. If you are disputing an ownership issue, you cannot raise a data inaccuracy issue along with it.

11- Why do certain sections of my CIBIL report have red bands?

CIBIL uses the ‘red bands’ to mark the disputed section. Once the issue is resolved, the red band will disappear.

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