Inaccuracies in credit bureaus may provoke your lender to deny any credit facility you’re looking for. Keep following to know how you can resolve issues with credit agencies.
Rishi is working with a limited company in Dehradun. He decided to invest in his start-up. To fulfill the cash requirement, he visited a nationalized bank & applied for a personal loan. But all his happiness got screwed when the bank rejected his loan application. Upon consultation, he came to know that there is something wrong with the credit report.
Later on, he found that he had a credit card years ago that he closed already. But it still shows an outstanding balance with the number of days past dues. The credit card company didn’t report the correct entries at the time of closure & Rishi also didn’t pay any attention to it.
It happened to so many customers resulting in unable to get credit facilities. If you’re also one of those, then we’ll let you know how you can resolve issues with CIBIL or any other credit rating agency. You may need the following things below-
Dispute refers to the incorrect entries submitted by your lender to the credit agency. It can be incorrect personal, contact, employment, account, or inquiry information.
Although there are four credit agencies in India, We’ll cover CIBIL (Credit Information Bureau (India) Limited). However, the procedure to raise a dispute is almost the same. To correct these inaccuracies, you need to raise a dispute at the dispute center. Don’t worry! You don’t have to visit the physical premises as the entire process is available online.
Now you’ll get a confirmation through email for this pending dispute with your lender. Remember, filling up the dispute form doesn’t mean that everything has sorted. CIBIL will reach out to your lender & once they get the approval, they’ll update the discrepancies. The entire procedure may take up to 15-30 business days. You can check the status in your credit report once you get the confirmation text or email that changes have been updated.
Fair Fincorp is one of the leading home loan consultants in Dehradun. In this case, your lender recently rejected your loan application. Reach out to our trained financial advisors for a quick home loan, Loan against property, business loan, personal loan, balance transfer, credit card & insurance. We believe that business can also be done through transparency and this makes us the best loan consultant in Dehradun.
Call Us
Recent Comments