How can I remove wrong loan entry from CIBIL report?

Novira

How can I remove an incorrect or wrong loan entry from my CIBIL report, and what steps should I follow to get it corrected? If a loan that does not belong to me, has already been repaid, or contains inaccurate information appears in my CIBIL report, how can I raise a dispute with CIBIL and the concerned lender to have the incorrect entry removed or updated? Additionally, what documents or evidence will I need, and how long does the correction process usually take?

Zyvora

If you find an incorrect loan entry in your CIBIL report, you have the right to request its correction. An inaccurate credit report can affect your credit score and your ability to obtain loans or credit cards.

Key points:

Verify the error: Carefully review your CIBIL report and identify the incorrect loan entry, such as a loan you never took, incorrect outstanding amount, or wrong repayment status.
Gather supporting documents: Keep copies of documents such as:
- Identity proof
- Loan closure certificate (if applicable)
- No Due Certificate (NOC)
- Bank statements or payment receipts
- Any correspondence with the lender
Raise a dispute with CIBIL: Submit a dispute through CIBIL's dispute resolution process, clearly explaining the error and attaching supporting documents.
Contact the lender: Inform the bank or financial institution that reported the incorrect information and request them to verify and correct their records.