Fixing errors in your CIBIL credit report

By abithadeepak | July 9, 2009

Banks feed in borrower data and personal information, which the CIBIL systems pool together. A control number is generated when banks pull out your credit report on a requirement basis.

The control number is a unique number, which is generated every time any bank or credit institution pulls out a credit report on you. CIBIL requires this number because it enables them to view the exact details that the bank has seen when they drew a report on you. Hence, it is important for you to request the bank to provide you the control number.

As seen with some of the previous posts, errors and inaccuracies are possible with your CIBIL report. If you need to seek clarifications in your credit report, here are the steps you should follow:

a. Contact the bank that declined a credit card or loan application on the basis of your poor credit score. Ask them for a clarification on the poor credit score and request them to provide the control number for your credit report.

b. The bank will provide you with the control number of the credit report and also share the information on the credit report that is responsible for your poor credit score.

c. Get in touch with CIBIL by calling their help desk numbers at 1800 – 224 – 245 or +91 -22 6638 4600 / 2281 7788 provided in their website, www.cibil.com. You could also drop in an email at info@cibil.com referring your credit report’s control number.When attempting to clarify the information on your credit report, you need to inform CIBIL about the exact nature of the discrepancies in the report that you have been made aware of, by the bank.

The importance of the control number

The control number is a nine digit unique number that helps CIBIL track an individual’s credit report from its database.

Banks feed in borrower data and personal information, which the CIBIL systems pool together. The control number is generated when banks pull out your credit report on a requirement basis.

The control number is a unique number, which is generated every time any bank or credit institution pulls out a credit report on you. CIBIL requires this number because it enables them to view the exact details that the bank has seen when they drew a report on you. Hence, it is important for you to request the bank to provide you the control number.

Dealing with an uncooperative bank

When the bank is uncooperative you could post a complaint in the bank’s website and if the bank does not respond within 15 days, you can register a complaint with the banking ombudsman, presenting a copy of the complaint posted on the bank’s website as proof.

You can register this complaint through their website.

Need for direct access to credit reports for borrowers

It is the need of the hour for CIBIL to allow borrowers to access their respective credit reports not only on cases when information needs to be verified but also as a way for individuals to keep a tab on their money inflow and outflow. This will help them weed out errors, clarify facts and more significantly, identify impersonations before it is too late.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.

13 thoughts on “Fixing errors in your CIBIL credit report

  1. sunil kumar

    we have applied for loan facility with PNB jatal road branch panipat haryana but the bank has reported that my cibil report is not ok whereas i have no default in any loan or with any bank or financial institution the report shown by the bank shows the loans which do not relates to me kindly check the same and inform us on our e-mail address

    Reply
  2. sunil kumar

    no passport has been got issued in my name no credit card has been ever issued in my name my pan no. isAGDPK1070H MY DATEOF BIRTH IS 05-08-1974

    Reply
  3. Liz Rice

    My friend suggested me to visit your blog. Very well explained. I would like to say that it is very interesting to read your blog.
    regards

    Reply
  4. simar

    Hats off, great post, clearly explains what is needed to know!!`

    Reply
  5. Rakesh Kochhar FCA

    We should adopt the USA model for more transparent credit report which every PAN Card holder can access for free once a year their own credit report.

    In USA the Federal Fair Credit Reporting Act requires that each of the nationwide consumer reporting companies: 1. Equifax ; 2. Experian ; 3. TransUnion, under US law have to provide you with a free copy of your credit report You can request for one only once every 12 months.

    This would be more equitable and fair to the borrower

    Reply
  6. Rajeev Sharma

    I have an entry of credit card overdues in my CIBIL report. But I do not know which bank has reported it. How Do I get to know the name of the Bank so that I can demand which dues they have reported because I have no default on my credit card.

    Reply
  7. sunil jhawar

    Based on my 1st hand experience, my personal suggestions: 1, the bank uploading adverse data on CIBIL site has to report the same to their clients also.
    2, if adverse data were not substanceted with proper documents, the reporting bank should be made responsible for the hardship with a exemplary fine.
    3, CIBIL has to upgrade their software with strict filters and thresholds to weed out discrepancies in the uploaded data.
    4, the “client” should have right to draw the same report what a member bank can get.
    5, the “client” should be able to request supporting documents from the member bank through CIBIL also and on non-co-operation CIBIL should restrict data from the particular bank.

    Reply
  8. Rajesh Kumar

    Would like to thank you for the information available on Credit Rating and CIBIL

    Reply
  9. Ravinder

    Hello Sir,
    I am facing a lot of problem regarding which i need some expert guidance.

    I Ravinder Kumar Budhiraja and my DOB is 09-10-1981 . I have never take credit card from any bank but when apply a loan from bank bank told me that ur name is in CIBIL .and your a/m is 96270 is pending . But I know that I have never ever receive credit card from any bank .So kindly please let me know that how to know the name of the bank it is and to whome should i contact for ..? I have contacted the CIBIl by sending them lots of Email but I don’t think so that they people are in the mood for giving me any support, they just asking me the money and when I raised the issue at Consumer Court http://www.consumercourt.in/personal-loan/12006-d… they just told that I have a strong reason to drag the Bank to the Consumer Forum .If any one have any idea or faced such issue in past or facing such issue please contact me I need some help in Removing my name from defaulter list and form a group to fight against such agency who are forcefully taking our hard earned money.

    Regards
    Ravinder

    Reply
  10. Raghav

    Hi,I applied for Car Loan in SBI, The CBIL report says that I have outstanding loan amount and credit card waive off of 10,000 approx. The loan amount i have already cleared and obtained NOC from the bank. However i am not aware of the credit card waive off fee. No bank has ever contacted me on this.

    My doubt is how this information is manintained and trouble some to get a new loan. I have taken two loans earlier and successfully closed without any issues.

    I need to get the control number and also credit card no and bank which has issued to me.
    please let me know what furthur things we need to enquire on the credit card and bank.

    Reply
  11. amol

    I've settled credit card payment but in CIBIL report mention as " Restructured Loan" so car loan declined by a reputed bank. can you suggest how to cancelled the said term and needed "Nil" for the credit card payments

    Reply

Leave a Reply

Your email address will not be published.