Name Mismatch and Address Errors in CIBIL Report: Fast-Track Correction Process

Your CIBIL report is a crucial component of your financial life. Banks and financial institutions check it before approving a loan or credit card for you. But did you know that even a slight difference in your address or name can affect your loan eligibility? Yes, it does

Even a single error in your credit report can lower your CIBIL score, affect your loan eligibility, and even lead to rejection. In this guide, we’ll cover everything you need to know about name mismatches and address errors. 

Common Causes of Errors in Your CIBIL Report

Here are several actions that could lead to errors, including submitting a certain word or phrase that leads to such CIBIL report errors:

• Data Entry Mistakes: The bank or lender employee may inadvertently enter the wrong information while typing or entering your data.
• Obsolete or Old Data: If you have recently changed your name or address, the bank may still have your previous details on record.
• Multiplicity of Accounts: Having multiple credit accounts with different names can result in confusion.
• Inaccurate or Incomplete KYC: Incomplete or insufficient documents or personal information can lead to incorrect or incomplete data.

Such errors can potentially become major problems in your CIBIL report and loan application. This is the reason why timely CIBIL score corrections are so important.

How to Check for Errors in Your CIBIL Report?

You can easily check your CIBIL report status from the TransUnion CIBIL website. Here's how:

1. Visit the official TransUnion CIBIL website, which uses a security service to protect itself from online threats and ensure your data stays safe.
2. Log in to your account or sign up if you don’t have one.
3. Enter your personal details, including name, date of birth, PAN, and contact information.
4. Click on “Get Your Free CIBIL Report” (available once every year).
5. Review your report for any spelling mistakes, incorrect addresses, outstanding balance, or inaccurate account information.

If there is an error, you must raise a dispute for CIBIL report correction.

The Fast-Track CIBIL Correction Process

Here's how to quickly rectify a name mismatch or an address mismatch in your CIBIL report in India:

Step 1: Check Your Errors

Read your CIBIL report carefully. Find the section that contains wrong details, like your name, address, birth date, or any other personal or account information. Also, make sure to note down the Control Number, a unique ID assigned to every CIBIL report. You’ll need this number when submitting a dispute request for correction.

Step 2: Report Problems and Raise a Dispute Online

Visit the official website of TransUnion CIBIL. There will be a "Raise a Dispute" button. Complete the form and mention what needs to be corrected, like "wrong address" or "spelling error in name." Attach your official documents, like your Aadhaar card, PAN card, or bank statement, to verify your details as well.

This is referred to as a CIBIL dispute raise or a CIBIL rectification. It's the simplest method of correcting such an error.

Step 3: Wait for Verification

After you raise a dispute, CIBIL notifies the concerned lender or financial institution that reported the incorrect information. The lender then reviews and verifies the disputed details. If the information you provided is found to be correct, the lender updates CIBIL, and the correction is made in your report, typically within 30 days.

Step 4: Inspect the Updated Report

Your report will be updated after the dispute resolution. You will receive an email notification that the revisions are done. Afterwards, you can check if the revised report has the correct personal information and address details.

Alternate Methods to Correct Your Credit Report

If you’re unable to access the online portal but still want to make corrections, don’t worry, there are alternative options available for you.

• CIBIL Customer Care: Get in touch with CIBIL customer care via phone or mail for help.
• CIBIL Complaint Mail ID: In addition, you can email the CIBIL complaint mail ID, mentioning your control number and error description. Also, attach the scanned copies of the documents.

Tips to Keep in Mind During the CIBIL Report Correction Process

Here are some tips to help you in your CIBIL correction process or to speed up the process: Be mindful of actions that could trigger discrepancies or slow down your report correction.

• Only submit your official documents (PAN, Aadhaar, or passport) as proof of identity.
• Review your document one more time before submitting to ensure there are no errors.
• Always register your details accurately with your bank and lender to avoid discrepancies in your credit report.
• If your credit card or loan is still active, inform the lender of the correction.
• Keeping reference numbers is important for tracking dispute progress with CIBIL.

What to Do if There’s No Dispute Resolution Provided?

Sometimes, a situation may arise where your disagreement is marked as "Unresolved" or "Rejected." This usually means that the lender has not confirmed the requested change. Or the documents or personal details you submitted did not match the records. In such cases, follow these steps to resolve your CIBIL report correction issue effectively:

• Check Your Documents: Ensure the official documents (like PAN, Aadhaar, or passport) you submitted are clear, readable, and correct.
• Contact Your Lender: Reach out to your lender or credit card company to verify your account details and confirm if they’ve updated your records.
• Re-submit the Dispute Form: If needed, raise a CIBIL correction request again with the right details and supporting documents.
• Speak with CIBIL Support: Contact TransUnion CIBIL customer service directly via their official website or helpline to explain your case and get further guidance.

Remember, CIBIL cannot change or rectify your credit report until your lender updates the information in their system. They simply record and display data provided by financial institutions. Always keep your control number handy when following up on your CIBIL score correction or dispute resolution process.

Read Also: CIBIL Dispute: All You Need to Know About CIBIL Dispute Resolution

To Conclude

Your CIBIL report is like a financial report card that shows lenders and banks your creditworthiness. However, there are many cases where errors or mismatches appear in your credit report. These are often due to name mismatches or address errors. Even though such mistakes may seem minor, they can affect your loan applications and make it harder to get credit in the future.

Therefore, make it a habit to regularly check your CIBIL report for any errors and resolve them promptly. Check your CIBIL score instantly with Poonawalla Fincorp today!

FAQs

Can my CIBIL report be rectified if my name has been altered on marriage or legally?

Yes, your CIBIL report can be rectified by providing correct documents declaring your name change, e.g., a gazette notification or a marriage certificate.

Will CIBIL charge any fee for name or address correction?

No, disputing or corrections in your CIBIL report are free of cost.

Can I approach my lender directly rather than reporting a dispute with CIBIL?

Yes, if the error is with their records only, you can approach your lender directly. They can correct the same, and CIBIL will be informed of the corrections.

What do I do if my dispute is not accepted by CIBIL?

In case your dispute is rejected, verify your documents and reopen the dispute with stronger supporting evidence. You can also contact your lender directly to verify and update the correct information.

Can an incorrect address in my CIBIL report impact my CIBIL score?

No, a single address error will not impact your score. However, it might delay loan sanctioning as lenders would not be able to verify your identity.