A complaint can be made only on the following two scenarios based on the information displayed in a credit information report (CIR);
i. If the credit facility (CF) is not related to the borrower,
ii. If the details of CFs are incorrect.
You can make/register a complaint by following the procedure of the Complaint Management System (CMS) below:
a). A bank or financial institution (member institution) must have already obtained your credit information report. The officer who handles your credit application will disclose the information in the CIR to you while granting or denying credit to you,
b). If you disagree with the details of the CFs, request a form [Evidence Credit Information Report (ECIR) Form] from the above member institution,
c). Handover the duly filled form together with required documents, if any, to the member institution,
d). Receive the Evidence Credit Information Report (ECIR). Firstly, try to get the errors, if any, rectified through the reporting member institution/s. This will help resolve the disputes quickly as member institutions are required to update data daily.
e). Else, obtain a form (Complaint Registration Form) preferably from the above member institution from which you received the ECIR and make a complaint.
f). When a complaint is registered, it will be assigned a Complaint ID and status of the complaint will be displayed in subsequent CIRs.
g) After a complaint is registered, you may request for your Self-Inquiry Report (SIR) from the same member institution. You need to obtain and handover the duly filled form [Self Inquiry Report (SIR) Form] for this purpose. This SIR will display the names of member institutions that have granted such CFs, against each CF in the SIR irrespective of whether they are performing or non-performing CFs.
h). Generally, it will take five (5) working days to resolve a complaint and rectify error/s. If there is no error, reporting member institution will reject the complaint. Therefore, Visit the member institution where you made the complaint after a week or so and inquire of the status of the complaint.
i). If the error is rectified, member institution will provide you the corrected CIR which was sent by the system. This corrected CIR will be sent to all member institutions that have made inquiries on you from the date of complaint was registered to the date of complaint was resolved.
j). If you still disagree with the information in the corrected CIR, you may send/fax your compliant in writing along with a copy of your identity card/business registration to CBO. (Fax number: 24777000). CBO will resolve the complaint through the above process of the CMS or through an off-line process. CBO will inform you of the status of your complaint over the phone.
k). Borrowers are strictly advised to first communicate with the member institution concerned to get any dispute/error record resolved/rectified without resorting to CBO Member institutions have been advised not to direct their customers to CBO for making complaints.