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

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luvimp
post Feb 10 2012, 05:17 PM

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QUOTE(leongal @ Feb 9 2012, 10:15 PM)
will frequent bounce cheques from the current accounts affect CCRIS and CTOS record?
*
Definitely no.
wusuhong
post Feb 13 2012, 02:59 AM

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-i have got an education loan , normally i just pay for the interest for the loan cause i got a grace period of 5 years . after 2 years the loan installment started d . i cannot pay cause that time i still studying so the bank uplift my deposit to pay, after email to the bank they say i need to write in to credit management for them to make changes.my Letter of Offer - under the repayment clause it stated " Grace period of a maximum 5 years is allowed before the installments commences, during such period interest is to be served monthly

- its been half a year d , so can i appeal to the bank to tell them wipe off the ccris record , or tell them to write a letter to clarify my situation.........

- now i am working n need to buy a car d , scared my loan cant be approved......

hope u all can give me some suggestions
NNathan
post Feb 13 2012, 09:12 AM

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How long is the blacklist for? 1 year?


Nnathan
(calculate how much you need for retirement at www.compare-insurance.com.my)



Alantris
post Feb 14 2012, 01:46 AM

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This has been one great thread on finance. In the end, lesson is, manage your finance properly.

I've had a bad start thus a bad financial reputation for the past few years, settling it wasn't easy. All started with an "innocent" 5K loan which I defaulted (this was 7 years back) Which ended up me having to pay 12K settlement and still have my credit report showing bad. Then, i have one credit card, an amex. Other than that, have been juggling with life just to make ends meets. Recently, I managed to settle what's remaining of the past 7 years of financial misery. I though it's a clean sheet for me now. for 2 months free of any loan repayments or bank calls. However, I decided i need a new transport as my current one is getting to the stage of uneconomical to maintain.. and guess what.. Loan rejected.

Not sure why, 60K loan and I earn 6k per month, with no commitments, and only 1 charge card (which is a company card). I guess it's the old records haunting me eh.... Maybe I'll just have to wait for a couple of months before the creditors finally agrees I'm a changed man (financially). Life's a b*tch.

My advice to youngsters, fresh grads, hold back the temptation for a fancy new gadget, nice expensive car or simply ez cash. You're like a clean white financial cloth, only stain urself with what u can clean up... if u jump into the mud, it's a struggle to get out.. and then, there's cleaning up the mess...
luvimp
post Feb 14 2012, 12:48 PM

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QUOTE(Alantris @ Feb 14 2012, 01:46 AM)
This has been one great thread on finance. In the end, lesson is, manage your finance properly.

I've had a bad start thus a bad financial reputation for the past few years, settling it wasn't easy. All started with an "innocent" 5K loan which I defaulted (this was 7 years back) Which ended up me having to pay 12K settlement and still have my credit report showing bad. Then, i have one credit card, an amex. Other than that, have been juggling with life just to make ends meets. Recently, I managed to settle what's remaining of the past 7 years of financial misery. I though it's a clean sheet for me now. for 2 months free of any loan repayments or bank calls. However, I decided i need a new transport as my current one is getting to the stage of uneconomical to maintain.. and guess what.. Loan rejected.

Not sure why, 60K loan and I earn 6k per month, with no commitments, and only 1 charge card (which is a company card). I guess it's the old records haunting me eh.... Maybe I'll just have to wait for a couple of months before the creditors finally agrees I'm a changed man (financially). Life's a b*tch.

My advice to youngsters, fresh grads, hold back the temptation for a fancy new gadget, nice expensive car or simply ez cash. You're like a clean white financial cloth, only stain urself with what u can clean up... if u jump into the mud, it's a struggle to get out.. and then, there's cleaning up the mess...
*
+1
Well said.

By the way, u can always try applying again with 80% or even 70% loan.
With that margin, you minimised the bank risk and they will most probably consider.
Try to avoid bank like PBB cause they are more choosy and picky.

JusTea
post Feb 16 2012, 01:06 PM

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Just to share my experience.

1. Three years ago my wife bought a car and I was the guarantor. Hers financial record was "flawless" but it wasn't enough to approve the loan. You see, I was the one holding it back. The Public Bank officer called to tell that I've an outstanding loan amt with MARA. Huh! I was quite surprised to hear that. How did they every found out? The loan was actually for a computer scheme that the company introduced to their students several years back and had been cancelled since. Anyway, the officer told me that record showed that I still owe MARA RM1k but he couldn't give me anymore detail. He can only see the company I owed and the amt. Luckily I've fully settled the debt a few months back and got the receipt to prove it. He asked me to fax it to the bank. Afterthat, my wife's application was duly approved.

Moral of the story: Even small/unrelated loan such as MARA computer scheme (eventhough Im just the guarantor) can make the bank reject a loan application. I believe the record is in CTOS. So be aware.

2. Last week, I went to a car showroom. As my family is growing I need to get a bigger car. But no rush though. Plan to do so in a few mths time. Anyway, I told this to the salesperson and she was quite ok with it. She even advised me to ensure my financial record is "clean" as the other day one of her client's loan application was still pending approval due to his outstanding Streamyx bill. He has to clear that debt first.

I always been wondering what kind of financial records that a bank can see when they process your application. After reading through this 23 pages of comments I sort of beginning to understand. In the past banks have rejected several of my credit card, housing as well as car loans. And, I had to go through several other banks, wasting money and time, till my applications were approved. Don't want to go through that with my upcoming car loan application. So...

I still owe TM RM100+ from a cancelled service. Will pay once I get my paycheck this mth.

Also, will go to CRISS and CTOS soon to find out if there are any problems. Need to update CTOS will my MARA loan status. And, will settle any problems first before I buy the car.




1282009
post Feb 18 2012, 01:32 PM

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QUOTE(Alantris @ Feb 14 2012, 01:46 AM)
This has been one great thread on finance. In the end, lesson is, manage your finance properly.

I've had a bad start thus a bad financial reputation for the past few years, settling it wasn't easy. All started with an "innocent" 5K loan which I defaulted (this was 7 years back) Which ended up me having to pay 12K settlement and still have my credit report showing bad. Then, i have one credit card, an amex. Other than that, have been juggling with life just to make ends meets. Recently, I managed to settle what's remaining of the past 7 years of financial misery. I though it's a clean sheet for me now. for 2 months free of any loan repayments or bank calls. However, I decided i need a new transport as my current one is getting to the stage of uneconomical to maintain.. and guess what.. Loan rejected.

Not sure why, 60K loan and I earn 6k per month, with no commitments, and only 1 charge card (which is a company card). I guess it's the old records haunting me eh.... Maybe I'll just have to wait for a couple of months before the creditors finally agrees I'm a changed man (financially). Life's a b*tch.

My advice to youngsters, fresh grads, hold back the temptation for a fancy new gadget, nice expensive car or simply ez cash. You're like a clean white financial cloth, only stain urself with what u can clean up... if u jump into the mud, it's a struggle to get out.. and then, there's cleaning up the mess...
*
Good sharing advice/experience. Keep it up! wink.gif


Added on February 18, 2012, 1:34 pm
QUOTE(JusTea @ Feb 16 2012, 01:06 PM)
Just to share my experience.

1. Three years ago my wife bought a car and I was the guarantor. Hers financial record was "flawless" but it wasn't enough to approve the loan. You see, I was the one holding it back. The Public Bank officer called to tell that I've an outstanding loan amt with MARA. Huh! I was quite surprised to hear that. How did they every found out? The loan was actually for a computer scheme that the company introduced to their students several years back and had been cancelled since. Anyway, the officer told me that record showed that I still owe MARA RM1k but he couldn't give me anymore detail. He can only see the company I owed and the amt. Luckily I've fully settled the debt a few months back and got the receipt to prove it. He asked me to fax it to the bank. Afterthat, my wife's application was duly approved.

Moral of the story: Even small/unrelated loan such as MARA computer scheme (eventhough Im just the guarantor) can make the bank reject a loan application. I believe the record is in CTOS. So be aware.

2. Last week, I went to a car showroom. As my family is growing I need to get a bigger car. But no rush though. Plan to do so in a few mths time. Anyway, I told this to the salesperson and she was quite ok with it. She even advised me to ensure my financial record is "clean" as the other day one of her client's loan application was still pending approval due to his outstanding Streamyx bill. He has to clear that debt first.

I always been wondering what kind of financial records that a bank can see when they process your application. After reading through this 23 pages of comments I sort of beginning to understand. In the past banks have rejected several of my credit card, housing as well as car loans. And, I had to go through several other banks, wasting money and time, till my applications were approved. Don't want to go through that with my upcoming car loan application. So...

I still owe TM RM100+ from a cancelled service. Will pay once I get my paycheck this mth.

Also, will go to CRISS and CTOS soon to find out if there are any problems. Need to update CTOS will my MARA loan status. And, will settle any problems first before I buy the car.
*
thumbup.gif



This post has been edited by 1282009: Feb 18 2012, 01:34 PM
ptit
post Mar 2 2012, 10:32 AM

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I already make full payment and have settlement remark in my ctos...but how long it takes for ctos to clear it from their system?
luvimp
post Mar 5 2012, 02:27 PM

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QUOTE(ptit @ Mar 2 2012, 10:32 AM)
I already make full payment and have settlement remark in my ctos...but how long it takes for ctos to clear it from their system?
*
They wont do it.
You have to tell them to do it.
SUSjflcorp
post Mar 6 2012, 09:08 AM

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QUOTE(luvimp @ Mar 5 2012, 02:27 PM)
They wont do it.
You have to tell them to do it.
*
Useless this ctos already making a lot of money destroying people's image. After you finish off everything you still have to request them to strike off your name?
luvimp
post Mar 6 2012, 03:48 PM

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QUOTE(jflcorp @ Mar 6 2012, 09:08 AM)
Useless this ctos already making a lot of money destroying people's image. After you finish off everything you still have to request them to strike off your name?
*
They do update it but not that quick.
If you can wait then it should be ok.
If u clear the debt because u wanted to apply for something ASAP then u need to inform them.
SUSjflcorp
post Mar 6 2012, 04:17 PM

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QUOTE(luvimp @ Mar 6 2012, 03:48 PM)
They do update it but not that quick.
If you can wait then it should be ok.
If u clear the debt because u wanted to apply for something ASAP then u need to inform them.
*
Oic. Anyways, never ever want to deal with them. Just taking opportunity on people's downfall!
luvimp
post Mar 6 2012, 05:14 PM

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QUOTE(jflcorp @ Mar 6 2012, 04:17 PM)
Oic. Anyways, never ever want to deal with them. Just taking opportunity on people's downfall!
*
They are just a service provider and people who subscribe to their service will need to pay in order to use it.
So i think you should blame on the demand from the subscriber.

SK30
post Mar 7 2012, 12:27 AM

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QUOTE(ptit @ Mar 2 2012, 10:32 AM)
I already make full payment and have settlement remark in my ctos...but how long it takes for ctos to clear it from their system?
*
From what i know they won't remove anything on the record... it will be there forever.

The only thing they willing to do is add a comment in Remark Section as for whatever present status after we provide relevant document to proof.. ex of remark: full payment and settled or others.

just wondering how would bank provide a loan even though the remark showing it's been settled. Any comment?



selvenz
post Mar 7 2012, 07:39 AM

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i confirm they only add a comment that its fully setteled but never remove
b00n
post Mar 7 2012, 01:45 PM

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QUOTE(SK30 @ Mar 7 2012, 12:27 AM)
From what i know they won't remove anything on the record... it will be there forever.

The only thing they willing to do is add a comment in Remark Section as for whatever present status after we provide relevant document to proof.. ex of remark: full payment and settled or others.

just wondering how would bank provide a loan even though the remark showing it's been settled. Any comment?
*
Depends on each bank's underwriting policy. Some will just take it literally that you had a negative record and straight away reject. Some will see how recent is the case and judge the relevance.
maxizanc
post Mar 7 2012, 06:23 PM

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Hye. May i know, if i got debt with bank but only RM1.3k, i am still blacklisted? Already overdue for a year.

This post has been edited by maxizanc: Mar 7 2012, 06:23 PM
luvimp
post Mar 8 2012, 12:13 PM

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QUOTE(maxizanc @ Mar 7 2012, 06:23 PM)
Hye. May i know, if i got debt with bank but only RM1.3k, i am still blacklisted? Already overdue for a year.
*
If its overdue for a year then most probably you are blacklisted.
No matter how much bank will usually proceed with legal if they cant collect the $$.
maxizanc
post Mar 8 2012, 01:31 PM

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QUOTE(luvimp @ Mar 8 2012, 12:13 PM)
If its overdue for a year then most probably you are blacklisted.
No matter how much bank will usually proceed with legal if they cant collect the $$.
*
If i settled the debt, will my name be removed from blacklisted immediately? What consequences if i was blaclisted? Difficulties in applying loan? How about travel outside Malaysia? Thanks
luvimp
post Mar 9 2012, 01:46 PM

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QUOTE(maxizanc @ Mar 8 2012, 01:31 PM)
If i settled the debt, will my name be removed from blacklisted immediately? What consequences if i was blaclisted?  Difficulties in applying loan? How about travel outside Malaysia? Thanks
*
If u settle it they will put a remark saying that it was settled.
If blacklisted then u will have difficulties in applying for loan.
At the moment only if u default PTPTN loan then u will be deny for travel.

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