New Delhi, Aug. 21 -- Your credit report plays an important role when you apply for a loan, as banks use it to assess your creditworthiness. There are cases where borrowers notice discrepancies in their credit report, such as duplicate loan accounts, incorrect personal details or wrongly reported repayment information.

These errors can lower your credit score, lead to higher loan interest rates, or even force lenders to reject your credit applications. Hence, it is prudent to immediately raise a complaint or grievance, because delaying it will only make your financial profile less attractive to lenders.

Consumers have two options to raise a dispute over incorrect information in their credit report. They can either submit a complaint to ...