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Thursday, March 24, 2022

What's CIBIL SCORE Dispute:

CIBIL Report is a three-letter number assigned to the credit bureau. The number determines your financial suitability. This is based on your credit history and is a factor that banks and lenders consider before giving you a loan. TransUnion CIBIL will collect data from various lenders and determine the accuracy of the data before it is printed on credit reports.

If there are variations in the CIBIL report or CIBIL points, such as bank details, contact details, your name, outstanding balance, date of birth, or the date of the loan account, you can always correct the same. The process of identifying and correcting errors in your credit report is called the CIBIL dispute, What’s CIBIL SCORE Dispute

CIBIL disputes can be of two types

Individual CIBIL disputes and Company CIBIL disputes.
You can always raise disputes in your CIBIL report or in your CIBIL points by completing the CIBIL Dispute Form through the CIBIL website.
Any CIBIL trade disputes can be submitted via the CIBIL Online Dispute Resolution Form which you can find on the CIBIL website.
It will take about 30 days after the CIBIL dispute is resolved.
The credit report of any person or company plays a major role in determining the creditworthiness and creditworthiness process. However, in the event of a conflict in your credit report, then the chances of getting a loan can be severely compromised. CIBIL provides custom channels and procedures for resolving disputes related to your CIBIL report. The process is slightly different depending on the business that raises the dispute application by the company or individual.

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Types of Conflicts That Could Arise with CIBIL
Different types of disputes may arise in a personal or corporate credit report. Knowing the stage of the dispute makes the resolution process easier. Here are some of the most common types of disputes customers may have regarding their CIBIL report.

Company disputes

Company or Account Details
Various company information such as name, address etc. can be challenged. Company PAN and account details such as type of credit, penalty amount are specific examples of account information.

Ownership
Copyright disputes may arise if the account of the specified company is not in your name.

Duplicate account

In your credit report, if the same account is repeated over and over again you may want to raise a dispute and resolve it.

Potentially incorrect fields
Here are the company details that can be disputed

Company Name

Legal Constitution

City

The world

PIN Code

Company Registered Address

Company Branch Address

Phone Numbers

PAN (Company)

Promoter / Director / Owner / Partner Name

Relationships

Individual arguments
personal details
This includes customer name, address details etc. For example, Raj Kumaar may not be as well spelled as Raj Kumar and may need to be corrected.

Duplicate accounts
Your account may be doubled so there may be a recurring dispute that can be resolved by raising a dispute with CIBIL.Com

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