How to Fix Errors in Your CIBIL Report Fast?

Are you losing out on loans or credit cards for no fault of your own? Nearly 24% of credit reports in India have errors that can badly hurt your CIBIL score. Many people don’t know it until their loan is rejected or their credit card application is denied.

And yes, even one small mistake, such as a wrong PAN or an extra loan, can lower your credit score by 100 points or more. The worst 

part? You’re still paying for someone else’s error.

Know What’s Wrong First: What Can Go Wrong in Your CIBIL Report

Your CIBIL report is like your financial CV. It shows how you handle money, loans, credit cards and repayments. However, when the information in it is incorrect, it can significantly harm your financial prospects.

Here’s a breakdown of the most common mistakes found:

Let’s say Ramesh had a personal loan of ₹1,00,000, which he closed in 2022. But his report still shows it as active. This incorrect data caused his score to drop from 755 to 641. His home loan was rejected.

Read More – The #1 Mistake That Could Destroy Your CIBIL Score

Now imagine this happening when you are applying for a ₹20,00,000 home loan.

First, always download your CIBIL report from cibil.com every 6 months.

Fixing the Report: Steps to Correct Errors Fast

Once you find errors, fixing them is urgent. Don’t delay it. Follow this five-step expert process:

1. Get Your Latest Report

Go to CIBIL’s official website. Use your PAN, OTP, and email to download your report. Then, you can check your accounts, balances, payment history, and personal info.

2. Highlight the Errors

Circle or mark incorrect entries. Create a list of what is wrong, including name, date, loan status, etc. Take a screenshot or export the PDF for reference.

Mark any ‘Written Off’ or ‘Settled’ wrongly

Example: Neha’s ₹50,000 education loan from 2018 was marked as “settled” even though she paid fully. This “settled” status brought her score down to 620 from 712.

3. Raise a Dispute Online

Go back to the CIBIL portal, log in, and select “Dispute Centre”. Click “Dispute an Item”.

Fill the dispute form carefully. Attach your proof (loan closure letter, bank statements, PAN, etc.).

4. Contact the Bank Directly Too

Don’t just rely on CIBIL. Call or email the bank whose account has the mistake. Banks are supposed to inform CIBIL after verifying the issue.

Example: SBI, ICICI, and HDFC all have separate grievance redressal units. Escalate if needed. Most errors are typically resolved within 30 days.

5. Track Status Weekly

Log in every week to check dispute updates. If not resolved in 30 days, raise a complaint with RBI’s Ombudsman via cms.rbi.org.in.

Your corrected report will be sent to your email.

Techniques to Avoid CIBIL Errors in Future

A lot of CIBIL errors happen due to negligence or identity mismatch. Follow these tested techniques:

1. Keep Credit Card Balance Low