A CIBIL Score is the number designated to you by TransUnion CIBIL, basis your credit history, accuracy in payment of debts, frequency of loan applications, and several other factors. It is a measurement of your creditworthiness and credit health. A CIBIL score determines the prospects of lenders getting back the amount that had been lent to the borrower within the pre-determined due date.
Errors in information and other discrepancies in the credit report adversely affects the credit score, and hence, the loan eligibility of borrowers. Therefore, such inaccuracies need to be immediately corrected by raising the issue with CIBIL, which is referred to as a CIBIL dispute. This is done by filing a resolution request with the credit agency, so it does not hamper your prospects of securing a loan or Credit Card that you are otherwise eligible for.
CIBIL disputes can be classified in two categories –
Individual disputes – These disputes arise as a result of filing incorrect personal information like name and address, etc. in an individual’s CIBIL report. Another reason behind an individual dispute can be issues regarding duplicate accounts. For instance, when the same loan application gets reflected in the report more than once, it automatically brings down your score.
Company disputes – Such disputes arise due to inaccuracies in company ownership details, incorrect data and duplicate accounts, etc. In such cases, the dispute resolution process has to be initiated by the authorised signatory of the concerned company by submitting the CIBIL dispute form. However, there are certain exceptions of the dispute resolution process. Information like name of member, account number, control number and enquiry date cannot be rectified.
Dispute related to individual and company CIBIL Report, and Company Credit Report can be raised through three different ways – through myCIBIL, by directly filling up the online dispute resolution form or offline process.
Raising a Dispute through myCIBIL
Raising a Dispute through the Online Dispute Resolution Form
For individual disputes, you can fill up the online dispute resolution form available on CIBIL’S official portal without visiting myCIBIL, or access the form here. If your issue concerns company disputes, there is a separate form that you can avail here. The online process is considered to be the fastest and the most hassle-free procedure for resolving disputes.
Raising a Dispute Offline
Disputes can also be raised by writing a letter addressed to CIBIL’S registered office in Mumbai. Make sure that you mention essential information like transaction ID, report order number, etc. accurately. All the required documents along with the letter has to mailed at:
TransUnion CIBIL Limited, One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013
After you have raised the dispute, CIBIL follows the below process to resolve it:
What is a CIBIL Dispute?
CIBIL disputes can be classified in two categories –
Individual disputes – These disputes arise as a result of filing incorrect personal information like name and address, etc. in an individual’s CIBIL report. Another reason behind an individual dispute can be issues regarding duplicate accounts. For instance, when the same loan application gets reflected in the report more than once, it automatically brings down your score.
Company disputes – Such disputes arise due to inaccuracies in company ownership details, incorrect data and duplicate accounts, etc. in such cases, the dispute resolution process has to be initiated by the authorised signatory of the concerned company by submitting the CIBIL dispute form.
Can I raise a CIBIL dispute online?
Yes, you can raise an online dispute with CIBIL in Two ways – through myCIBIL and by submitting the Online Dispute Resolution Form.
Raising a Dispute through myCIBIL
Raising a Dispute through the Online Dispute Resolution Form: For individual disputes, you can fill up the online dispute resolution form available on CIBIL’S official portal, without visiting myCIBIL, or you can simply access the form here. If your issue concerns company disputes, there is a separate form that you can avail here. The online process is considered to be the most hassle-free and fastest procedure for resolving disputes.
Is there an offline option for raising a dispute with CIBIL?
Yes, you can raise a CIBIL dispute offline by writing a letter addressed to CIBIL’S registered office in Mumbai. Make sure that you mention essential information like transaction ID, report order number, etc. accurately. The documents and letter has to be sent to their office at:
TransUnion CIBIL Limited, One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013
How long does CIBIL take to resolve a dispute?
The usual turnaround time for resolving a dispute is 30 days, provided your lender processes the dispute request within a certain timeline.
When can I access my updated CIBIL Score and Report after my dispute has been resolved?
CIBIL usually takes up to 7 days to revise your CIBIL Report after a dispute has been resolved.
How to check CIBIL dispute status?
The login credentials of your myCIBIL account is emailed to you, so that you can keep a regular check your dispute status by clicking on the ‘Dispute Status’ tab. CIBIL also notifies you about the status through emails.
For Company Dispute, a unique ID is generated by CIBIL to enable you to track the dispute status. You can call CIBIL helpline for the same. Alternately, you can contact them on the consumer helpline number: +91-22-6638-4600.
The personal loan that I have taken has been mentioned twice in my CIBIL Report. Can I raise a dispute with CIBIL?
The mention of the same loan twice has reduced your CIBIL Score than what it should actually be. Therefore, you should immediately raise a dispute with CIBIL to have it corrected, so you are not unfairly subjected to financial hassles in the future.
How will I know that my dispute has been resolved?
CIBIL creates a myCIBIL account for you after you have registered a dispute with them. The login credentials of this account is emailed to you, so that you can keep a regular check on your dispute status by clicking on the ‘Dispute Status’ tab. CIBIL also notifies you about the status through emails.
For Company Dispute, a unique ID is generated by CIBIL to enable you to track the dispute status. You can call CIBIL helpline for the same. Alternately, you can contact them on the consumer helpline number: +91-22-6638-4600.
Once your dispute has been resolved, you will be notified through a mobile message on the contact number that you have registered with CIBIL while registering your dispute. You CIBIL Report will also be updated within 7 days of the resolution of the dispute.
Can I raise more than one dispute at the same time?
No, CIBIL does not allow this benefit. You can only raise a dispute against one field at a time. For instance, if your dispute concerns an ownership issue, you will not be able to raise an issue about incorrect data simultaneously.
I am not satisfied with the resolution of my dispute. Can I raise it again?
Yes, you can submit another request for dispute resolution if you are not satisfied with the resolution. This request has to be submitted along with information about the previous request.
