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Miscellaneous

SPECIAL FILE SUBMISSION BY FINANCIAL INSTITUTIONS TO EXPEDITE CIC’S DISPUTE RESOLUTION

Credit Information Corporation

MAKATI CITY, 28 December 2021 – Credit Information Corporation (CIC)—the country’s public credit registry and repository of credit information—recently issued guidelines on the special submission of separate files by its submitting entities to expedite the process of updating and correcting credit data disputed by a borrower.

Individual borrowers who obtained credit reports generated from its Credit Information System (CIS) may file disputes or corrections on any erroneous, incomplete, or outdated credit information reflected in the report through the agency’s Online Dispute Resolution Process (ODRP).

Launched in 2019, the ODRP requires submitting financial institutions to submit their recommended action on the pending dispute including: acknowledgment of the validity or invalidity of the disputed information, all supporting documents received and reviewed in relation thereto, as well as the underlying basis for acceptance or justification for rejection of the dispute.

“This information shall guide CIC in resolving the pending dispute in view of the borrowers’ right to dispute erroneous, incomplete, or misleading credit information, as well as their right to a simplified dispute resolution process protected by R. A. No. 9510 or the Credit Information System Act,” CIC President and CEO Ben Joshua Baltazar shared.

Separate file to update or correct disputer’s credit data

In the current dispute resolution process, the CIC requests submitting entities to provide the file name and submission date of the disputer’s credit information for verification and determination whether the submitted report was loaded in the CIC database successfully without errors.

“However, this practice led to delays in prompt dispute resolution because the corrected data has to be tracked down and verified amid the millions of data records with the CIC, straining the organization’s limited resources,” Atty. Baltazar stated in CIC Letter Circular No. 2021-13, which will take effect 15 days after publication in a newspaper of general circulation.

To expedite the process of addressing disputed credit data, submitting entities are now directed to submit a special file to update or correct the borrower’s credit information.

“This special submission shall be separate from the regular contribution file which is submitted monthly. All relevant data to be corrected pertaining to a dispute shall be contained in the special submission and all future regular contribution files shall be consistent with the corrections made therein,” the CIC PCEO explained.

The latest CIC Circular likewise stated that the loading of these special submissions will be prioritized to ensure the quick resolution of disputes.

New credit report

To validate the loading of the Special Submission, the borrower who filed a dispute will then be prompted to pull a new credit report once the CIC system loads the same.

“This new and corrected credit report will be free of charge,” Atty. Baltazar assured the public.

The format of the special submission is the same as the regular contribution file except it will only contain the specific information of the disputer.

“By observing this process, we can ensure the speedy resolution of disputes and consequently, produce credit reports which reflect the most current and accurate information on borrowers,” the CIC PCEO ended.

For technical assistance on special submissions, submitting entities may contact their assigned CIC Data Operator for support or email [email protected].


The Credit Information Corporation (CIC), a government-owned and controlled corporation, was created by Republic Act No. 9510, otherwise known as the Credit Information System Act (CISA). The primary mandate of CIC is to establish a comprehensive and centralized credit information system for the collection and dissemination of fair and accurate information relevant to, or arising from, credit and credit-related activities of all entities participating in the ecosystem.

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