AskCred can help you to Correct Errors on your CIBIL Report

A Brief Introduction:

Well, we all are human beings and we often do make mistakes. The bankers are responsible for the updating of CIBIL reports every month. But there are chances of mistakes while doing certain data entries. The mistakes may include the wrong account and loan type, wrong status, wrong ownership type, wrong dates, error in sanctioned amount, error in current balance and overdue amount, error in assets and many such other errors. So it is essential that you keep a check on your CIBIL report and get it corrected if you find anything wrong in it to avoid any risk in future loans.

Errors Regarding your Basic and Personal information:

Now errors might occur while providing your basic personal information. The basic details’ errors may include errors in your name, address, your gender, your contact information, your passport/voter id, PIN code, etc. For instance, you may take an example of an error in the name. Say my name is Ayesha Khan and in my CIBIL report it is misspelled as Aisha Khan. Someone under the name Aisha Khan borrows a huge amount and runs away so the police suspect will be on me obviously. So you need to be careful about such things.

Something which doesn’t belong to you:

If anything which doesn’t belong to you appears on your CIBIL report then you must get it removed. Don’t take it serious as this may create an issue for you in future.

Now this was the information regarding errors which might occur in your CIBIL report. Here is the entire procedure to get your CIBIL report corrected if there is any error in it.

Now this was the information regarding errors which might occur in your CIBIL report. Here is the entire procedure to get your CIBIL report corrected if there is any error in it.

How to Correct Errors of CIBIL Report:

  • Firstly, you need to fill a CIBIL Online Dispute Resolution Form. Be sure that you provide with accurate information.
  • After the submission of the form, you will be given a dispute id which is also referred to as complaint id.
  • Next CIBIL forwards your error correction request to a certain lender and if the lender confirms that there are errors in the report then CIBIL update the report.
  • This process however takes at least 30 days for the resolution of the issue.

Furthermore, it is recommended that you get your credit report checked on an annual basis.

Now, all these points are simple enough to read but difficult to implement. That’s when an advisor could come in handy. Trusted financial advisors are tough to find. AskCred is India’s first AI based credit helpline which helps users to navigate the financial maze of debt, budgeting, credit cards, debt traps, credit scores and a lot more. What’s the best home loan in the market? How do I cut my debt? How do I decide which bank to choose for a credit card? How do I make and stick to a household budget? What’s the fastest way to get a personal loan? What do I do when I feel I am a victim identity theft? Can my low credit score be improved? AskCred’s objective is to use technology to provide users with a seamless, unbiased, low cost and trustworthy experience.

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