How to fight SBI for an incorrect report & how 1 missed payment will on my credit report impact long term credit score?

[pleasegiveltf]

When I checked my credit report in January 2023 I saw that SBI had reported a delayed EMI (29 days) in December 2022 - which was actually paid! This dropped my credit score considerably from over 750 (don't remember exactly, might be even higher) to 683 (since then it has climbed up to 721 now). SBI did the same thing in 2016 for a couple months (reporting that I missed the EMI even though it was paid).

Questions:

1. I have all the proofs to show that I did make the December '22 payment on time. How do I fight SBI and get this resolved? I've already tried:
   1. Reaching out to the bank - no response
   2. Escalating to the AGM of my region - they basicalled redirected to the branch, who gave no response again
   3. Making a dispute with CIBIL with the proofs attached - they reached out to SBI & reverted back to me saying SBI says that the report is accurate (!!!)
      
2. How long will this missed payment remain in my report and be considered for calculating the credit score? I believe it's 36 months for CIBIL and longer for Equifax (4 years) and Experian (7 years) going by their credit reports. 2016 doesn't even appear on my CIBIL and Equifax but does appear in my Experian report.
   
   
3. Does a single missed (delayed) payment less than 30 days impact the long term credit score by much?

 

[panu24]

I don't think it should impact the long term provided you kept your later payments on time which will definitely help your score improve.

 

[kgaurav00]

When I checked my credit report in January 2023 I saw that SBI had reported a delayed EMI (29 days) in December 2022 - which was actually paid! This dropped my credit score considerably from over 750 (don't remember exactly, might be even higher) to 683 (since then it has climbed up to 721 now). SBI did the same thing in 2016 for a couple months (reporting that I missed the EMI even though it was paid).

Questions:

1. I have all the proofs to show that I did make the December '22 payment on time. How do I fight SBI and get this resolved? I've already tried:
   1. Reaching out to the bank - no response
   2. Escalating to the AGM of my region - they basicalled redirected to the branch, who gave no response again
   3. Making a dispute with CIBIL with the proofs attached - they reached out to SBI & reverted back to me saying SBI says that the report is accurate (!!!)
2. How long will this missed payment remain in my report and be considered for calculating the credit score? I believe it's 36 months for CIBIL and longer for Equifax (4 years) and Experian (7 years) going by their credit reports. 2016 doesn't even appear on my CIBIL and Equifax but does appear in my Experian report.
   
   
3. Does a single missed (delayed) payment less than 30 days impact the long term credit score by much?

Complaint to RBI ombudsman with all a payment and previous commiunication proofs.

 

[RaviAglRaviAgl is verified member.]

When I checked my credit report in January 2023 I saw that SBI had reported a delayed EMI (29 days) in December 2022 - which was actually paid! This dropped my credit score considerably from over 750 (don't remember exactly, might be even higher) to 683 (since then it has climbed up to 721 now). SBI did the same thing in 2016 for a couple months (reporting that I missed the EMI even though it was paid).

Questions:

1. I have all the proofs to show that I did make the December '22 payment on time. How do I fight SBI and get this resolved? I've already tried:
   1. Reaching out to the bank - no response
   2. Escalating to the AGM of my region - they basicalled redirected to the branch, who gave no response again
   3. Making a dispute with CIBIL with the proofs attached - they reached out to SBI & reverted back to me saying SBI says that the report is accurate (!!!)
2. How long will this missed payment remain in my report and be considered for calculating the credit score? I believe it's 36 months for CIBIL and longer for Equifax (4 years) and Experian (7 years) going by their credit reports. 2016 doesn't even appear on my CIBIL and Equifax but does appear in my Experian report.
   
   
3. Does a single missed (delayed) payment less than 30 days impact the long term credit score by much?

Are you sure, you did not miss it?

Sbi reports and manages EMI transactions in a very complicated manner, so maybe it is paid as per you but unpaid according to them.

Most of the stuff they calculate and report is pretty much automated without any manual intervention, so maybe you are reading the report wrong.

One thing which comes to my mind is bad luck. Say, you deposit a cheque to your loan account. Sbi posts it in a wrong account or puts it in a suspense account. Then, you complain after say some 10 days and they rectify it and give you credit. But they will show the payment as late and you cannot do anything about it other than fight with them tooth and nail.

I would recommend to have a thorough look at your loan statements once again.

Thanks!!