INCOME TAX22 Sept 2026
Repaid your loan but your credit report still shows it as active? Experts explain how to fix it | Mint
Paid off your loan? Your credit report may still show it as active, because lenders update credit bureaus only from time to time. This affects any borrower who recently closed a loan. First confirm with your lender that the account is marked closed. If it still shows active, raise a dispute with the credit bureau, and keep your closure letter and no-dues certificate handy.
Key Statutory Highlights
- Lenders share information with credit bureaus periodically, so a recently closed loan may take some time to reflect as closed on your credit report.
- Borrowers should keep the original loan closure letter, the no-dues certificate with acknowledgement details, and the final payment receipt ready.
- Under the RBI framework, borrowers may be entitled to compensation of 100 rupees per calendar day if a credit information complaint is not resolved within 30 calendar days.
Actionable Advice for Taxpayers / Founders:After repaying a loan, check your credit report and confirm the closure with your lender. If the account still appears active, you can raise a dispute with the credit bureau and submit your closure documents for correction.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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