Your credit information report (CIR) is an essential document that contains information about your credit history. It is maintained by credit information companies (CICs) such as CIBIL, Experian, and Equifax, and is used by banks and other financial institutions to assess your creditworthiness. Therefore, it is crucial to ensure that your CIR is accurate and up-to-date. In this blog, we will discuss how to check your CIR for inaccuracies in India.
Step 1: Obtain a copy of your CIR
You can obtain a copy of your CIR from any of the CICs mentioned above. Under the Credit Information Companies (Regulation) Act, 2005, every individual is entitled to one free CIR report per year from each of the CICs. You can also request additional copies of your CIR report by paying a nominal fee.
Step 2: Review the information in your CIR
Once you have obtained a copy of your CIR, carefully review the information contained in it. Check for inaccuracies such as incorrect personal information, incorrect account details, incorrect credit limits, and incorrect payment history. Ensure that all the accounts listed in your CIR are yours and that the account balances are accurate.
Step 3: Dispute inaccuracies in your CIR
If you find any inaccuracies in your CIR, you can dispute them with the relevant CIC. The CIC is required to investigate your dispute and correct any errors within 30 days of receiving your request. You can dispute inaccuracies in your CIR by filling out an online form or by sending a written request to the CIC.
Step 4: Follow up on your dispute
After disputing inaccuracies in your CIR, follow up with the CIC to ensure that the errors have been corrected. If the errors have not been corrected, you can escalate your dispute to the Banking Ombudsman or the Consumer Court.
In conclusion, it is crucial to regularly check your CIR for inaccuracies to ensure that it accurately reflects your credit history. By following the steps outlined above, you can easily check your CIR for inaccuracies and take the necessary steps to correct them.
