Correct errors in borrower credit information

When there are errors in the customer's credit information, the adjustment is regulated as follows:

1. Cases of correcting errors in credit information of borrowers:

- The credit information company detects errors in credit information and self-corrects the errors according to the internal regulations of the credit information company.

- The participating organization discovers errors in credit information and sends the credit information company a written request to correct the errors along with relevant documents. The credit information company must have a written notice of the results of the error correction in the form of direct delivery; or via postal service; or via other electronic means to the participating organization within a maximum of 05 working days from the date of receipt of the request to correct the errors from the participating organization.

- The borrower discovers errors in credit information and sends the credit information company or participating organization a written request for correction of errors along with relevant documents. The credit information company or participating organization must notify the borrower in writing about the processing process and the results of the correction of errors in the form of direct delivery; or via postal service; or via other electronic means to the borrower within a maximum of 05 working days from the date of completion of the correction as prescribed in clause (ii) below.

2. The credit information company shall make corrections to errors at the request of the borrower as follows::

- In case of errors arising from the information processing process of the credit information company, the credit information company shall make corrections to the errors within a maximum period of 05 working days from the date of receipt of the borrower's written request for error correction.

- In case the credit information company determines that errors arise from information collected at a participating organization, the credit information company shall notify the borrower of the processing process (clearly stating the source of the error) within a maximum of 05 working days and coordinate with the participating organization to correct the errors within a maximum of 10 working days from the date of receipt of the borrower's written request to correct errors.

In addition, in case the borrower does not receive a written response within the time specified in Clause (ii) of this Section or does not agree with the content of the written response from the credit information company, the borrower has the right to request mediation or initiate proceedings in arbitration or court in accordance with the provisions of law.

(Pursuant to Article 22 of Decree 58/2021/ND-CP)