Humans are bound to make mistakes. And there is no issue in making them. The only thing one should do is acknowledge that mistake and not repeat it. Once a person has acknowledged the mistake, now is the turn to ratify it. May it be personal life, professional life or credit health? One should never show the negligence over any kind of mistakes because at any given point of time you have to deal back with them. But if the damage is too big or too serious, the reversal is equally tiring and time consuming.
Rekha and Vinit are business partners. They are doing the consultancy business since last 8 years. They started their business 7 years ago, with great passion and a tremendous amount of knowledge they had. With their great marketing skills and research, they are constantly growing day by day. For the fundings, they took the business loan to start their venture. They always made sure that the credit is paid on time and there is not even a single chance for them to enter loan defaulters list. They had taken A huge risk while they started this business, but they had a faith that it will work!
To their expectation, it really did well. Now while credit health being too important now and too much talked upon these days, they thought of checking their credit score. While getting the credit score they had the same excitement as kids have in getting the result when they know they are going to score well. They both had never made any late payments, never had they missed any date of payments, neither did the over use the credit card. But it was a terror when they saw the score as the score was 580 and 610 for them. Now, as they were thinking, there couldn't have been a single place where they must have done anything which could get the score so low. So they planned to have a detailed report check.
While they checked the detailed report they came across few of the things which were incorrect. They were wrongly updated or mis-updated. With a lot of confusion, they went to a credit advisory company like credit Sudhaar to check what can be done in this case. Following are the advice they got for the same.
1. Request your detailed report
As stated above, please ask for the detailed report if you find there is any issue with the score you received while doing the credit score check.
2. If any errors, get the documents to prove
If, you see the report and find that there are few or many things which are not updated properly, please get the documents which would prove that the things updated in the report are not true and needs the change to be applied.
3. Do Raise a Dispute
If the documents you get are 100% validated, please raise a dispute and put the documents in support with an application stating the error details.
4. Do not fill online complaint forms.
If you get online complaint form for the things which are wrongly updated from the other hand, may be by the credit company or a credit bureau, submit everything in a physical copy. Do not fill any kind of online complaint form.
5. Wait and Track the Report
On regular bases (try not too frequently) please check and track the report. If there are changes happening, which you had asked for.
You can do the above mentioned things when you find the error, but with this, make sure you do not do the things mentioned below:
1. Dispute the matter only with the lender and not credit bureaus.
2. After buying a report from bureaus, and not reading it thoroughly.
3. Please do not misplace the supporting documents
4. Do not miss including enough data in the dispute you raise against the bureaus.
Follow these 7 steps, and in very small time, you will definitely get a proper score when you do your CIBIL Score Check. Work patiently and delinquently to achieve the great credit health!