Credit Report Dispute Letter

To, The Grievance Redressal Officer [credit_bureau] Date: [dispute_date] Subject: Dispute regarding incorrect entries in my credit information report Sir/Madam, 1. MY DETAILS Name : [applicant_name] PAN : [pan] Address : [applicant_address] Report number : [report_number] 2. DISPUTED ENTRIES On reviewing my credit information report, I have found the following entries to be incorrect: [disputed_entries] 3. THE CORRECT POSITION [correct_position] 4. SUPPORTING DOCUMENTS [supporting_documents] 5. REQUEST I request that you kindly: (a) Investigate the disputed entries and take up the matter with the credit institution concerned; (b) Correct or delete the incorrect entries from my credit information report; (c) Provide me with an updated copy of my credit information report once the correction has been effected; (d) Confirm to me in writing the outcome of the investigation and the action taken; and (e) Inform me if any entry is not corrected, together with the reasons. 6. STATUTORY BASIS 6.1 Under the Credit Information Companies (Regulation) Act, 2005 and the regulations made under it, a credit information company is required to take steps to update credit information and to correct or delete inaccurate information on being satisfied of the inaccuracy. 6.2 A credit institution is likewise required to furnish accurate credit information, and to update it promptly. 6.3 The Reserve Bank of India has issued directions providing for a compensation mechanism where a complaint regarding credit information is not resolved within the prescribed period. 7. I am aware that an incorrect entry materially affects my ability to obtain credit, and that the consequences of leaving it uncorrected are serious. I therefore request that this matter be treated as urgent. Yours faithfully, [applicant_name] PAN: [pan] Contact: ______________________ PRACTICAL NOTES - Raise the dispute with the credit information company, and separately with the LENDER that reported the entry. The bureau reports what the lender furnishes, so a correction usually has to come from the lender. - Keep the dispute reference number and all correspondence. If the matter is not resolved, the escalation route is the lender's own grievance mechanism, and thereafter the Reserve Bank of India's integrated ombudsman scheme. - Check your credit report periodically rather than only when applying for a loan. Errors are commonly discovered at the worst possible moment, when a loan application is already pending. - Common errors worth checking: an account that is not yours, a closed loan still shown as active, a settled account shown as written off, duplicate entries for the same loan, and incorrect personal details causing a mix-up with another borrower of a similar name.