A credit score is a significant beginning point while approving any loan or credit card application. It measures your credit ability and is essential to retain your good credit score. You can work towards boosting your credit score if your credit score is low. Rectifying incorrect details in your credit report will ensure instant and timely financial help for any reason. You can receive financial assistance without any problems, delays, or cuts in the credit allocated to you. You need to check CIBIL score frequently to rectify any error in your credit report. To do so, you can use the CIBIL score app.
Ways to Rectify Errors in Your CIBIL Report
The overall procedure of filing and correcting discords is lengthy and can take up to thirty days. Four credit bureaus or rating agencies in India provide credit scores- Experian, CIBIL, CRIF Highmark, and Equifax. Among all the credit bureaus and agencies operating in India, many people may prefer CIBIL. You can use the CIBIL score app to check your CIBIL score.
The Credit Information Bureau India Limited provides a credit report at frequent intervals. However, the credit reports that the credit bureaus issue may have some errors or incorrect information. You can correct the inaccurate details and ensure that your incorrect entries do not negatively hamper your credit score. You will know about the false information in your credit report if you check CIBIL score frequently.
A few ways to rectify errors in your credit report are as follows:
- You can sign into the official Credit Information Bureau India Limited portal.
- You can fill up an official dispute form.
- You can provide important information, such as information related to incorrect information, in your CIBIL report and personal information while filling up the form.
- You can ensure that the information you are providing is accurate.
- It is mandatory to give a nine-digit control number that concerned authorities will use during their investigation to know more about the disputed report.
- After you file the disputed application appeal, the concerned authorities will receive your application or appeal and verify it.
- Concerned authorities will authenticate the claims from their end.
- When the concerned authorities confirm your error claim, they will report it to CIBIL.
- The Credit Information Bureau India Limited will include the changes,i.e., the correct information you entered in your CIBIL report and issue you a revised version of your credit report.
- With the help of an email, the concerned authorities will notify you of the changes and rectification.
Before applying to rectify the inaccurate details in your report, check your CIBIL report meticulously. You can check your credit accounts’ status. There are many ways to check CIBIL score. You can opt for any approach. To view your CIBIL score, you can use the CIBIL score app. Every credit account might have a tag adjacent to it. When you have paid your dues for a specific account, you can see a closed or settled tag, whereas your ongoing debts will have an open title. If you find that despite paying your dues, there is an open tag, you can report it to the concerned authorities.
You can check CIBIL score for free or pay for it. A few banks provide the services for free, and some charge a fee. You can log into the official CIBIL website, use third-party financial platforms, or download the CIBIL score app. When you report the errors, CIBIL may take a few days to investigate your claims. When the credit rating agency investigates your assertions, they might contact you and the lender. After meticulous authentication and evaluation, Credit Information India Limited may commence the significant correction and rectify your CIBIL report according to your provided accurate details.
Conclusion
You can check CIBIL score frequently with the help of the CIBIL score app. Mistakes might occur in your report for various reasons, such as misprints, inaccurate details passed by the lender to the credit bureau, duplicate entries, and errors related to your basic information. Knowing how to fix the errors in your credit report is essential to rectify the mistakes in your credit report. When you download your credit report, you can check whether the information mentioned is accurate and belongs to you.
