CIBIL Dispute Resolution Process
What Is a CIBIL Dispute?
If there is any error or any kind of problem in a CIBIL report, whether it is for an individual or a company, the formal complaint filed with CIBIL is called a CIBIL dispute.
How Can You Raise a CIBIL Dispute?
A CIBIL dispute can be raised both online and offline.
Online, you can log in to the CIBIL portal and raise a dispute. You can also fill out the online dispute form available on the CIBIL portal. In the form, you must clearly mention the details and attach the required documents.
Apart from this, you can also submit a complaint to CIBIL through email.
Whether the dispute is raised online or offline, the dispute resolution process is almost the same in all cases.
What Happens After You File a Dispute?
Once you file a complaint with CIBIL, CIBIL forwards that complaint to the bank against which the dispute has been raised. The bank then investigates the issue.
All the data and documents you submit with the dispute are sent to the bank for verification.
After raising a dispute, a remark appears in your CIBIL report stating, “Account is under dispute.”
The remarks section may also show details like multiple online disputes, account segment, and dispute date. These details are visible when you refresh your report.
CIBIL Dispute Resolution Time
The maximum time limit for resolving a CIBIL dispute is 30 days.
As per new RBI guidelines, disputes must be resolved within 30 days. This rule applies not only to CIBIL but also to the other three credit bureaus in India.
During this period, CIBIL may send you weekly email updates about the status of your complaint.
If the dispute is resolved in your favor, the report is corrected and a refreshed CIBIL report is sent to your email free of cost.
If the dispute is rejected, the dispute ID is closed, and the reason for rejection is sent to you by email.
Penalty for Delay in Dispute Resolution
If CIBIL fails to resolve the dispute within 30 days, CIBIL has to pay a penalty of ₹100 per day.
This penalty rule also applies to banks. Banks are given 21 days to complete their investigation. If the bank takes more than 21 days, the bank also has to pay a penalty.
If both CIBIL and the bank delay the process, then both are liable to pay the penalty.
Why Does CIBIL Dispute Resolution Take More Time?
After receiving your complaint, CIBIL forwards it to the bank. Inside the bank, multiple departments are involved, such as the Account Department, CIBIL Cell, and Legal Department.
Many times, the payment is updated in the Account Department, but the same update does not reach the CIBIL Cell. Because of this mismatch, incorrect or old data is sent to CIBIL, and the dispute remains unresolved.
The issue becomes more serious when a “Suit Filed” status appears in the report. Even after full payment, the CIBIL Cell does not update the status until the Legal Department confirms that the case has been withdrawn.
Due to this process, especially in PSU banks, removing the “Suit Filed” status can take a long time.
How to Improve the Success Rate of Your CIBIL Dispute?
Based on the type of dispute, you must send the correct evidence and supporting documents.
The clearer and more accurate the information you provide, the higher the chances of successful dispute resolution.
If the issue is related to database or KYC, submit valid KYC documents.
If it is a payment-related issue, submit payment receipts, a No Dues Certificate, and a statement of account.
Always read emails or messages received from CIBIL carefully and reply on time.
Along with raising a complaint with CIBIL, it is strongly recommended to send a separate complaint email to the bank with all documents attached. This reduces inter-departmental miscommunication and helps resolve the dispute faster.
What If the Dispute Is Not Resolved?
- If the dispute is not resolved within 30 days, you can file a complaint with the bank’s nodal officer.
- If the issue is still not resolved, you should file a complaint with the RBI Ombudsman.
Low CIBIL Score and Loan Rejection
If you have applied for a loan and the bank manager has rejected your application due to a low CIBIL score, and you do not understand why your score is low, you can send us your CIBIL report.
Our team will analyze the report and explain why the score is low and where the problem lies.
CIBIL Score Improvement and Report Rectification Service
If you want to take our service for CIBIL score improvement or report rectification, you can contact us on the helpline number given below.
Our helpline is available from Monday to Saturday, 10 a.m. to 7 p.m.
A WhatsApp number is also provided below, where you can send your CIBIL report.