Found an error in your credit report? Here's how to get it corrected

A mistake can affect loans and interest rates. Know the steps to dispute errors and get your credit record corrected

A wrong entry in your credit report can do more than hurt your credit score: It can delay a loan approval, increase borrowing costs, or even lead lenders to reject your application. The good news is that borrowers can raise a dispute and get inaccurate information corrected.

 

Credit reports contain details such as your loan accounts, repayment history, credit card usage, defaults, and personal information. These records are maintained by credit information companies (CICs) such as TransUnion CIBIL, Experian, Equifax and CRIF High Mark based on information shared by banks and financial institutions.

 

However, errors can happen. A closed loan may still appear active, a payment made on time may be shown as delayed, or someone else’s account details may mistakenly appear in your report.

 

 

First check what is wrong in your credit report

Before raising a dispute, carefully review your credit report. Check for:

 

• Personal details such as name, date of birth and address
• Loan and credit card accounts listed under their name
• Outstanding balances and repayment status
• Date of account closure, if applicable
• Enquiries made by lenders

A lower credit score is not necessarily because of poor financial behaviour. Incorrect reporting by a lender or a credit bureau can also affect the score.

 

How to raise a dispute with the credit bureau

If you find an incorrect entry, you need to raise a dispute with the credit information company concerned. Most bureaus provide an online dispute resolution facility on their websites.

 

The borrower generally needs to:

• Log in to the credit bureau’s dispute portal.
• Select the incorrect information.
• Provide details explaining why the entry is wrong.
• Submit supporting documents, if required.

 

For example, if a loan is wrongly shown as unpaid even after closure, the borrower can submit loan closure documents or repayment proof.

 

The credit bureau then checks the dispute with the concerned lender. Since lenders provide the data, the bureau usually cannot change information without confirmation from the lender.

How long does the correction take?

The correction process may take a few weeks. Under the framework set by the Reserve Bank of India (RBI), credit information companies and lenders are required to resolve disputes within a specified timeline.

 

If the lender confirms that the information reported was incorrect, the bureau updates the record and the revised information reflects in the credit report.

 

Borrowers should also download the updated report after the correction to ensure that the mistake has been removed.

 

What if the dispute is rejected?

A dispute may be rejected if the lender confirms that the information reported is accurate. In such cases, borrowers can approach the lender directly and request clarification.

 

They can also maintain records such as:

 

• Loan repayment receipts
• Bank statements
• No-objection certificates
• Loan closure letters
• Communication with the lender

These documents can help if the borrower needs to challenge the information further.

 

Why checking your credit report regularly matters

Many people check their credit report only when applying for a home loan or personal loan. By then, an incorrect entry may already have affected their borrowing plans.

 

Regularly monitoring the report can help identify:

 

• Fraudulent accounts opened in your name
• Unauthorised credit enquiries
• Incorrect overdue payments
• Errors in personal details

A strong credit history helps borrowers access loans at better terms. Even a small reporting mistake can impact a lender’s assessment because credit scores are used as an indicator of repayment behaviour.

 

Avoid paying agents promising quick fixes

Borrowers should be cautious of individuals or companies claiming they can instantly improve credit scores or remove negative records. No third party can legally erase accurate information from a credit report.

 

The correct route is to raise a dispute through the credit bureau or approach the lender that reported the information.

 

Keeping track of credit records, paying dues on time and correcting errors quickly can help maintain a healthy credit profile and avoid problems when seeking future credit.