How to: Correct errors in your CIBIL report!
WISE man Murphy once said, "Anything that can go wrong will go wrong." It applies to your credit report too - lack of updated information, error in personal details and even mixing up of names!
August 04, 2011 / 18:55 IST
WISE man Murphy once said, "Anything that can go wrong will go wrong." It applies to your credit report too - lack of updated information, error in personal details and even mixing up of names!
The most common of all these issues: lack of updated information. For instance, you may have had a few pending credit card payments which have been paid up eventually, but the records still shows them as pending!What do you do?If your bank communicates that your credit report is the reason for the rejection of a loan, ask to see your report. According to a recent RBI mandate, banks need to comply with an individual's wish to access his or her credit report. So, even if the bank does not disclose the actual reason for a loan rejection, they are still entitled to give you access to your credit report. Once you have it you can check for any inaccuracies in the report. Ensure you have proof before you decide to file a complaint against the bank. Correcting errors in your reportTo seek clarifications in your credit report, here are the steps you should follow:
a. Ask the bank that declined a credit card or loan application to provide the control number of your credit report.b. Get in touch with Credit Information Bureau (India) Limited (CIBIL) at info@cibil.com referring your credit report
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