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CIBIL Score: Many times, after reviewing their credit report, people discover that their name is incorrect. If your name has changed due to marriage, divorce, or any other legal reason, and it hasn't been updated, it could lead to problems with loan approval or credit card approval. Therefore, it's crucial to get it corrected promptly.

Banks and NBFCs prioritize individuals with a credit score above 750 and a fully updated profile. In this case, your name, PAN card, Aadhaar, and other documents must be the same.

Step-by-Step Process for Changing Name at Credit Bureaus
Updating your name can now be easily done online. Here are some basic steps:

First, gather the necessary documents, such as your PAN card, Aadhaar card, marriage certificate or divorce papers, and legal name change affidavit.
Next, go to the credit bureau's website.
Log in and go to the 'Correction' or 'Dispute' section.
Select the name update option and upload the documents.

Learn about the offline method as well.

If you prefer, you can attach a copy of the document to a letter and send it to the bureau's postal address. After submitting the documents, you will keep receiving updates at your registered email or mobile number.

What if the name has changed later?

Institutions like CIBIL, CRIF High Mark, Experian, and Equifax provide CIBIL scores in India. All these bureaus update their profiles by collecting data from banks and NBFCs. Therefore, you must first update your name in your bank, NBFC, and other loan accounts. Once the bank updates its records, the same data will be sent to the credit bureau.

How long does it take to update your name?

It typically takes 15 to 30 days, or about 3-4 weeks, for the name to be updated. After the process is complete, you'll receive a confirmation via email or SMS. Therefore, be sure to provide the correct email address and mobile number when filling out the form.

What problems will arise if you don't update your name?
Delayed loan approval
Problems with credit card processing
Mismatch between documents and records
Difficulties with ID verification
Negative impact on your financial profile

Why is a clean and updated record important?
Your credit report is a record of your entire financial discipline. If your name isn't updated correctly, banks and lending institutions will distrust you. A clean record not only facilitates loan approval but also helps secure better interest rates and easier repayment terms.

Conclusion
Changing your name is a simple process, but taking it lightly can lead to significant problems. Failure to update your name promptly after marriage, divorce, or any other legal change can disrupt your credit profile. Following the right documents and processes makes this task easier and your credit score remains clean and strong without any hassle.

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