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> CCRIS, CTOS, Blacklisted by Bank, Whats The different.

yks8845
post Jul 13 2008, 01:48 AM


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I started this topic regarding some personal finance issue which always related to CCRIS, CTOS, blacklist by bank. laugh.gif

Since i been browsing and go though some forum and found that quit number of forumer having CCRIS,CTOS, blacklisted by bank problem.

may i know whats different about CCRIS, CTOS and Blacklisted by bank ? And how those system function? hmm.gif



If lets say one Guy who was having credit card outstanding balace for july rm 1000 (but previous outstanding balance = rm 0) , he did paid rm 500

before due date, so, is that he is under CCRIS problem ? rolleyes.gif



Dude who have knowlegde about those CCRIS,CTOS etc welcome to telling me rclxm9.gif

This post has been edited by yks8845: Jul 15 2008, 12:14 PM
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Amaru
post Jul 13 2008, 02:50 AM


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I recall my friend got blacklisted once by a bank. I think he mentioned that if you got blacklisted by one bank, it's likely you get blacklisted by all banks that work with Bank Negara. Think they have got a shared database or something in CCRIS.

If you're behind payment, it's likely CCRIS has a record or something. But the people who will call you first is the bank.
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LittleBro
post Jul 13 2008, 04:07 AM


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Credit rating agencies to help bank to evaluate their client.

CCRIS (Central Credit Reference Information System) - defaulted payment for a few months(lawyer letters or some kind of red letters), that includes telephone bill. You can get loan from some bank. Major banks will ask you to settle the outstanding amount before approving your application.

CTOS (Credit Tip Off Service Sdn. Bhd) - You are totally blacklisted, presumably you are near bankrupt. Unlikely bank will approve your loan application but it is still possible.


You can get CCRIS and CTOS by just becoming guarantor for someone else. Nothing to worry about since it is just an evaluation of your credit health.

This post has been edited by LittleBro: Jul 13 2008, 04:15 AM
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Hybz
post Jul 13 2008, 09:59 AM


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Do I have CCRIS if I late payment for loan for few days ??
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David83
post Jul 13 2008, 10:28 AM


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QUOTE(Hybz @ Jul 13 2008, 09:59 AM)
Do I have CCRIS if I late payment for loan for few days ??
*
I believe it's for more serious case like didn't pay loan or credit card bills for months.
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yks8845
post Jul 13 2008, 11:19 AM


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@LittleBro

Thanks for you info, now i may understand a bit CCRIS, and CTOS.


@Hybz

If can, i think dont make late payment smile.gif


@David 83

So, Base on ur view, Case in my statement in first post consider a "good" payer or not under CCRIS monitor ?
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happy4ever
post Jul 13 2008, 11:31 AM


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CTOS gets its info from public information, bulletins, newspapers.
You'd see ads on people getting filed for bankruptcies etc. That will end up in CTOS.

Where were you when there was one big hoohaah about CTOS last year?
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yks8845
post Jul 13 2008, 03:13 PM


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@happy4ever

That time i still in UNI thus not so concern about financial issue sad.gif
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exia5733
post Jul 13 2008, 03:47 PM


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i wud like to add that CCRIS is central database maintained by BNM (from info contributed by the Banks themselves) while CTOS/BRIS are 3rd party databases. CCRIS is free to Bankers. They have to pay CTOS/BRIS to use their databases.

also, dont think it is a practice of Banks to blacklist individuals UNLESS they are fraudsters....
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cute_boboi
post Jul 13 2008, 05:00 PM


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Not only fraudsters, BNM also keep the blacklist of those who don't pay for any types of loans (personal, car, house, etc.), credit cards, guarantor, bankrupt, etc.

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happy4ever
post Jul 13 2008, 08:44 PM


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QUOTE(cute_boboi @ Jul 13 2008, 05:00 PM)
Not only fraudsters, BNM also keep the blacklist of those who don't pay for any types of loans (personal, car, house, etc.), credit cards, guarantor, bankrupt, etc.
*
Not only those who don't pay, but those who have A LOT of credit cards, and each one still has outstanding balances (meaning the owner doesn't like settling all their debts at once)

These are bad credit ratings.
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LittleBro
post Jul 15 2008, 12:46 AM


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QUOTE
So, Base on ur view, Case in my statement in first post consider a "good" payer or not under CCRIS monitor ?


80% of the adults are under their monitor. Doesn't care whether you are good or bad. CTOS don't they get their information from newspapers(why would banks pay CTOS when they can easily do that by reading the newspapers). They get their information first hand, credit card companies for example.

Relax... Having CTOS, no problem. House with your name, loan under any usable family members name.

http://www.ctos.com.my/
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Hybz
post Jul 15 2008, 08:23 AM


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QUOTE(yks8845 @ Jul 13 2008, 11:19 AM)
@LittleBro

Thanks for you info, now i may understand a bit CCRIS, and CTOS.
@Hybz

If can, i think dont make late payment smile.gif
@David 83

So, Base on ur view, Case in my statement in first post consider a "good" payer or not under CCRIS monitor ?
*
Its because of my salary only out 2~3 days after my due late of car payment ...
Can't pay double also cause tight budget sweat.gif

any consequences if this prolong ?
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b00n
post Jul 15 2008, 10:29 AM


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QUOTE(LittleBro @ Jul 13 2008, 04:07 AM)
Credit rating agencies to help bank to evaluate their client.

CCRIS (Central Credit Reference Information System) - defaulted payment for a few months(lawyer letters or some kind of red letters), that includes telephone bill. You can get loan from some bank. Major banks will ask you to settle the outstanding amount before approving your application.

CTOS (Credit Tip Off Service Sdn. Bhd) - You are totally blacklisted, presumably you are near bankrupt. Unlikely bank will approve your loan application but it is still possible.
You can get CCRIS and CTOS by just becoming guarantor for someone else. Nothing to worry about since it is just an evaluation of your credit health.
*
QUOTE(LittleBro @ Jul 15 2008, 12:46 AM)
80% of the adults are under their monitor. Doesn't care whether you are good or bad. CTOS don't they get their information from newspapers(why would banks pay CTOS when they can easily do that by reading the newspapers). They get their information first hand, credit card companies for example.

Relax... Having CTOS, no problem. House with your name, loan under any usable family members name.

http://www.ctos.com.my/
*
Your information is misleading.

CCRIS is a system created by BNM.
Every financial institution is required to submit their customer's credit conduct to this centralised system. Telco is excluded but they are plans to include all those government loans, korperasi, IPTA loans etc...but all these while just talks and rumours.
What is meant by credit conduct is mainly split into 3 major categories:
Applications:
- How many applications is being applied for the past 1 year.
- How much "line" is being applied.
Thus banks or underwriters would know how "desperate" this person is seeking for credit facilities. And out of these apps, how many is approved and rejected.

Outstanding Status
- It would show how many credit facilities one had i.e. housing loans, credit cards, OD, hire purchase etc...
- Each line would show each facilities with it's outstanding, limits and payment behavior, legal status if any.
- Under the payment behavior string, 1 would meant miss 1 payment, 2 would meant miss 2 payment.
- If it's a card with outstanding close to limit granted might not give a good impression.
- If it's like Hybz mentioned, he's always late by 2 days...the payment string might shows all 1. But since it's a consistent pattern, there's nothing to worry about. But word of advise, phone the bank up and change the billing cycle.
- Legal status would shows what legal action had been taken.
This portion is mainly for officers to judge how good is your repayment, how much "burden" once has, etc...the main evaluation criteria lies in reviewing this section.

Special Attention Status
- This would show mainly accounts that had been written off.
- Or under AKPK management.
Meaning to say if one appears under this section, sorry to say that it really leaves a bad impression.

So it's advisable to visit BNM twice or at least once a year to view your own CCRIS report.
This is to detect whether someone had misused your identity to fraud for apps also.
http://creditbureau.bnm.gov.my/index.php?ch=7&pg=10&ac=12



CTOS is an independent company which collects all legal notices published.
So happy4ever is right that they are collecting from newspaper.
Note the word "published". So they either took it from newspaper or notice board outside the court.
They never approach "first hand" to credit companies like you mentioned!
CTOS is different from CCRIS as it only reports what was published. Even inclusive of normal civil suits which doesn't really involve financial institution.
That is why CTOS is still widely used besides CCRIS as CCRIS like I mentioned above only store reports from "financial institution". Whereas if one company or one person decided to sue you for defamation, or other legal matters and are being brought up to court, it would be captured under CTOS after the legal preceding is done and legal notice is issued. CCRIS would never capture those instances.
There's another company out there quite similar to CTOS, which is known as BRIS. Just that it's more focused on corporate side.
http://www.ctos.com.my/CTOSHOME/home.htm
http://bris.com.my/html/about.html


BTW, there's no such thing as black list.
Banks or financial institution based on all the above reports to make their judgment.
One can be listed in CTOS but if it's not related or the severity is not major, there would still be no problem.
CCRIS, however everyone with credit facilities would be listed. As long as the payment behavior is consistently good than there's no problem!
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speakeasy
post Jul 15 2008, 11:58 AM


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QUOTE(LittleBro @ Jul 15 2008, 12:46 AM)
80% of the adults are under their monitor. Doesn't care whether you are good or bad. CTOS don't they get their information from newspapers(why would banks pay CTOS when they can easily do that by reading the newspapers). They get their information first hand, credit card companies for example.

Relax... Having CTOS, no problem. House with your name, loan under any usable family members name.

http://www.ctos.com.my/
*
just to correct you a bit..CTOS obtains their record and info from public domains such as the following:-

a)Newspaper
b)Court Notice Boards
c)Court Officers
d)Summons issued to borrowers
e)Judgments obtained against the debtors
f)Insolvency Office
g)Liquidators Office
h)Other relevant government offices

Credit card companies are also financial institutions themselves..And they are the one who use the services of CTOS the most..How can they be providing sole info to CTOS...

Nowadays if your name appears in CCRIS, you may still be considered f you ever apply for financing but in the event you name appears in CTOS..then you are finished..trust me its not that simple..

Just for the info of everyone out there..Your name only appears in CTOS when a civil suit (which includes bankruptcy) is initiated against you in the event you are a hardcore defaulter.



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yks8845
post Jul 15 2008, 12:11 PM


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@b00n, @speakeasy

guys, thanks for those Information , which very informative smile.gif


@Hybz

u may try the step as Boon suggest. smile.gif


By the way, I heard that CCRIS report only shown customer's credit

facilities for past 12 months. Is it correct ?
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speakeasy
post Jul 15 2008, 01:39 PM


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QUOTE(yks8845 @ Jul 15 2008, 12:11 PM)
@b00n, @speakeasy

guys, thanks for those Information , which very informative smile.gif
@Hybz

u may try the step as Boon suggest. smile.gif
By the way, I heard that CCRIS report only shown customer's credit

facilities for past 12 months. Is it correct ?
*
ya thats correctif you do a single search. The Bank may request to do history check on you which will show previous years history
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LittleBro
post Jul 16 2008, 01:01 AM


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QUOTE(speakeasy @ Jul 15 2008, 01:39 PM)
ya thats correctif you do a single search. The Bank may request to do history check on you which will show previous years history
*
Sorry for the mistake, (lost in translation) those bankers i meet always refer CTOS and CCRIS as a status.Some banks such as BSN, MBSB, and Bank Islam too relax on the approval side but it comes with marginally higher interest rate.

This post has been edited by LittleBro: Jul 16 2008, 01:04 AM
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speakeasy
post Jul 16 2008, 01:57 PM


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QUOTE(LittleBro @ Jul 16 2008, 01:01 AM)
Sorry for the mistake, (lost in translation) those bankers i meet always refer CTOS and CCRIS as a status.Some banks such as BSN, MBSB, and Bank Islam too relax on the approval side but it comes with marginally higher interest rate.
*
the reason BSN Bank Rakyat MBSB and Bank Islam is more relaxed on this is beacause you will have to provide a guarantor for the ficilities taken from them..not as easy as other commercial banks..obatining or even trying to obtain a guarantor nowdays is nearing impossible especialy with the 8% inflation rate and economic dowturn we are currently facing..
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mygenesis
post Jul 18 2008, 06:27 PM


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one of my banker fren told me that CCRIS is for bank to track ur payment record with all financial institutions wic will be recorded 4 12mnths.and 4 CTOS ur name will be recorded under the list if there is legal action commence against u, for e.g summons, bankruptcy proceeding.
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