Definition
Credit Report Dispute
A credit report dispute is the formal process of asking a credit bureau to correct an error on your credit report, such as a wrong default, a loan you never took, or an outdated entry.
Errors on your report — a closed loan still showing as open, a payment wrongly marked late, or someone else's account due to identity confusion — can lower your credit score and cost you loan approvals or higher rates. In India, you can raise a dispute with the bureau (such as CIBIL, Experian, Equifax or CRIF), which investigates with the lender and corrects verified mistakes.
It pays to check your report periodically, especially before applying for a major loan. Keep documentation of repayments and closures, and follow up until the correction reflects, since a clean report directly affects the cost and availability of future credit.
Related terms
- Net Worth StatementA net worth statement is a snapshot of your finances that lists everything you own (assets) minus everything you owe (liabilities), giving a single number for your wealth.
- Debt-to-Income Ratio (Individuals)For individuals, the debt-to-income ratio is the share of your monthly income that goes toward repaying debts such as EMIs and credit-card dues.
- Secured Credit CardA secured credit card is a card backed by a fixed deposit or collateral you pledge, making it easier to obtain and useful for building or rebuilding a credit history.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.