What if bank refuses to update my credit report?

Answer

A:

If a bank refuses to update or correct your credit report despite you providing valid proof, you still have legal options to ensure your credit history is accurate. Here’s what you can do:

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1. Verify Your Documents

• Ensure you have clear, valid proof of payment or correction (payment receipts, bank statements, settlement letters).

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2. Raise a Dispute with the Credit Bureau

• File a formal dispute with the credit bureau (such as CIBIL) reporting the incorrect information.

• Provide all supporting documents to the bureau.

• The bureau will contact the bank to verify the dispute and update the report accordingly.

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3. Escalate the Issue

• If the bank still refuses or the dispute is unresolved within 30 days, escalate by:

  • Filing a complaint with the Banking Ombudsman — an official appointed by the RBI to resolve banking grievances.

  • Approaching the Consumer Court for unfair practices if necessary.

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4. Legal Remedies

• You can seek legal help to issue a legal notice to the bank demanding correction.

• File a case in the appropriate court or Debt Recovery Tribunal (DRT) if the issue impacts your financial status or creditworthiness.

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5. How Legal365 Can Help

• Dispute Management: Assist you in filing disputes correctly with credit bureaus.

• Legal Notices: Draft and send formal legal notices to banks for prompt correction.

• Representation: Represent you before consumer courts or tribunals if needed.

• Advice: Guide you on your rights and the best course of action to protect your credit record.

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Need Professional Assistance?

 Visit: www.legals365.com
 Call: +91 9625961599

Advocate B.K. Singh and the Legal365 team are here to help you ensure your credit report is accurate and fair.

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