Consumer Cibil Report : Information on Cibil Dispute Resolution Process
How to Read Credit Report
Consumer Cibil Report : Information on Cibil Dispute Resolution Process
Shiv Nanda
Jun 29 • 5 mins read

Consumer Cibil Report : Information on Cibil Dispute Resolution Process

5 mins read

The Consumer CIBIL Report is an extremely extensive and comprehensive report issued by the TransUnion CIBIL providing data on the credit histories and behaviours of potential and existing borrowers, thus enabling the lenders to make lending decisions with increased certainty and mitigate risk. The CIBIL Report is an in depth insight into the borrower’s borrowings across various lending institutions, thus exposing the loopholes and risk areas. It is a product of millions of continual updates by the TransUnion CIBIL with the help of their strong member base which consists of banks, financial institutions, state financial corporations, non-banking financial companies, credit card companies and housing finance companies.

CIBIL Dispute

CIBIL score is a three digit score which determines a borrower’s creditworthiness based on their past credit history and behaviour. However, there might be discrepancies in this score and the consumer cibil report in various areas such as the name, address, outstanding balance, dates, loans, etc. In such circumstances, a CIBIL dispute can be raised to rectify those discrepancies. There are two types of CIBIL disputes :

  • Individual disputes:
  • This could be personal details such as name, address, PAN card number, etc or ownership or account related such as outstanding balance, number of enquiries made, ownership of the loan account, etc.

  • Company disputes:
  • This could be incorrect company details such as name, address, telephone numbers, etc or ownership or account related such as the same account being reflected in the Company Credit Report multiple times, the report not belonging to the said entity, etc.

Difference between Consumer CIBIL Report vs Commercial CIBIL Report

The Consumer CIBIL Report is a report that provides detailed information regarding the individual’s creditworthiness based on the individual’s past credit history and financial behaviour. It helps the lending institutions assess the repayment history of the individual to understand the repayment capability before disbursing the credit.

The Commercial CIBIL Report is a report that provides extensive information regarding the company’s or commercial business’s creditworthiness based on the company’s past credit history and financial behaviour. It empowers the lenders to assess the repayment capability of the commercial businesses before they disburse the credit. The Commercial CIBIL Report is issued by the commercial bureau.

How to get the credit information report?

CIBIL Report can be downloaded using the following steps :

  1. Visit the official CIBIL website – https://www.CIBIL.com/freeCIBILscore.
  2. Click on the ‘Get Yours Now’ tab.
  3. You will be directed to enter details such as name, date of birth, contact number, ID number, etc. Proceed to create a ‘Username’ and ‘Password’.
  4. An OTP will be sent to your contact number to verify all the details and confirm your identity.
  5. After the verification process is complete, one can view their CIBIL Score and download their Consumer CIBIL report.

How can I download the Commercial CIBIL Report?

To download a Commercial CIBIL Report, the following steps can be followed :

  1. Visit the official CIBIL website – www.cibil.com
  2. Choose the option which says ‘Check/download CCR ( Company Credit Report ).
  3. It will direct you to a page with 3 payment plans, one with 4 reports, one with two reports and the other with a single report. These are the premium, standard and basic plans respectively. You can choose whichever plan fits you the best.
  4. For your first step, you have to enter details such as company’s details, address and contact information.
  5. After this, you will have to make the payment for your selected CCR plan.
  6. Lastly, you will have to upload the required KYC documents to verify all your information and identity of the company or commercial business.
  7. Thereafter, you will be able to view your CCR and download it according to your selected plan.

What are the different components of a CIBIL Report?

A CIBIL Report or Credit Information Report (CIR) has the following key components :

  • CIBIL score:
  • The CIBIL score is a three digit score ranging from 300-900, with the higher end of the spectrum reflecting higher creditworthiness or repayment capability of the individual or company and the lower end reflecting lower creditworthiness. The information given in the credit report is used to calculate the credit score.

  • Personal information:
  • The CIBIL report contains basic personal information such as name, date of birth, gender, PAN card number, Voter ID, etc.

  • Contact information:
  • This section of the CIBIL report contains information such as telephone numbers and addresses. A maximum of four addresses can be mentioned.

  • Account information:
  • The account section contains information regarding the credit facilities such as name of lenders, loan account, account numbers, month on month payment history, type of credit, etc.

  • Enquiry information:
  • When you apply for a credit card, the respective financial institution accesses your credit report. These enquiries are listed on the credit report including details such as the vendor’s name, amount of credit applied, type of credit applied, date of application of credit, etc.

Terms and their meaning in the CIBIL Report

Term in the Credit Report What does it mean?
SF Stands for a credit account that is ‘Suit Filed’.
WD Stands for a credit account that is ‘Wilful Default’.
WO Stands for a credit account that is ‘Written off’.
SETTLED Stands for a credit account that is ‘Settled’.
CLOSED Stands for a credit account that is ‘Closed’/ Paid off.
ACTIVE* Stands for a credit account that is past due (less than 90 days).
ACTIVE** Stands for a credit account that is past due (more than 90 days).
DPD Stands for ‘Days Past Due’ (days past since the agreed payment date).
DPD’0’ The ‘0’ indicates that the payment has been made on time.
DPD>0 The numerical beside DPD indicates the number of days past due as reported by the lender.
S Stands for ‘Standard’ – According to the RBI guidelines, an account that is overdue for less than 90 days is a ‘Standard’ asset.
B Stands for ‘Substandard’ – an account that is overdue by 90 days for 12 months or less is considered a ‘Substandard’ asset.
M ‘Special Mention’ – a standard asset that is being closely monitored due to a possible discrepancy.
D ‘Doubtful’ – an account that is overdue by 90 days for over a year, i.e, 12 months is a doubtful asset.
L ‘Loss’ – an account that has an identified loss but a written off amount is considered a loss asset.

FAQs

  1. How can I contact CIBIL Customer Support?
  2. There are many ways to contact the CIBIL Customer Support. They are :

    1. CIBIL Customer Care number : (+91)22-6140-4300
    2. FAX : (+91)22-6638-4666
    3. CIBIL Corporate Office Address : TransUnion CIBIL Limited One Indiabulls Centre, Tower 2A, 19th Floor,Senapati Bapat Marg, Elphinstone Road, Mumbai – 400013
    4. CIBIL Customer mail ID : info@cibil.com
    5. Portal : CIBIL Self Service Portal

  3. How to raise CIBIL disputes online?
  4. To raise a CIBIL dispute online, you have to visit the official CIBIL website and log in using your credentials. Under the Credit Reports section, you will find a Dispute Center. Click on the ‘Dispute an Item’ option and fill the online dispute form and click on submit. Enter the accurate information regarding the incorrect information under the ‘Dispute Type’ section along with the reason behind the dispute.

  5. How to raise CIBIL disputes offline?
  6. To raise a CIBIL dispute offline, you can write to the TransUnion CIBIL office with all the essential information such as transaction ID, report order number, etc along with all the necessary documents needed. The address of the CIBIL office is : TransUnion CIBIL Limited, One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013.

  7. How many days does CIBIL take to resolve a dispute?
  8. Once you have raised a CIBIL dispute, it will approximately take 30 days to resolve the dispute.

  9. How to access consumer CIBIL self-service portal?
  10. You can access the consumer CIBIL self-service portal by visiting the official CIBIL website and choosing the self-service portal option available on the website.

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