You are in finance section and you are teaching ppl to take cash advance?! Under what repercussion?

Why a lot still misunderstood CCRIS. Pls visit the links in the first page under my post to understand better.

CCRIS record will be there be it missed payments or not. Anyone whom has a credit facility with the banks will have their records updated to CCRIS which includes credit line, outstanding balance and repayment history as well as related tagging eg. AKPK, legal actions, reschedule, restructure etc...

As long as one's facility is still active with financial institution under BNM purview, then the MONTHLY UPDATED records on loan outstanding, line and repayment history will be there. Once one cancelled the credit facilities with no outstanding balance, the record will be removed on the next update submission by the FIs.

Loan application status will remain in CCRIS for the next 12 months from the date you apply.

So do not mislead on the "timeline".

Special attention is meant for accounts which FIs termed as "losses" i.e. written off from their loan books.
Restructured accounts does not necessary meant written off, hence will not necessary be tagged special attention. Restructured or reschedule is tagged with either T or C and still shows line and outstanding with repayment history.

AKPK on the other hand is tagged as K, also with the normal outstanding balance, line and repayment history.

Yes, early settlement will need to discuss with the banks separately. Once you have settled, your accounts is "settled" i.e. closed without outstanding balance, hence upon the next monthly update to BNM by the respective FIs, the record will no longer be there. Similarly for the question on once one completed AKPK, will it be hard to apply loan. Basically your CCRIS will have nothing to reflect if all the facilities are under AKPK previously and has settled. So depending on one's age; it will trigger FIs evaluation criteria wondering why a person of say eg 40 years old but without any loan facilities including credit cards. Each banks will have their own evaluation criteria but like I pointed out, it may raise concern.

Btw, bankruptcy min amount is RM30k debt. But heard the government might soon revise it to RM50k.

Since this is credit card, you will only go to court when they are filing bankruptcy against you. It is normal procedure for FIs to send letter of demands and summons to demand payments. It is also a must take action in the event in the future they are filing bankruptcy actions against you which they wil then proves to the court they have gone through all the legal demands and yet you as a borrower did not respond to it.

I believe PDPA Act dictates a person needs to give consent for the release of information. Therefore they can restrict information being disclosed.

However, that being said; if one is not willing to disclose, then would the other party eg banks wants to give the person the loan or would a potential business partner wants to partner the person on the basis if that person is not willing to give consent for disclosure... is there something that person is hiding?

So probably one might need to ponder on that.

3 means you missed 3 payments in a row. Cannot be late payment. Late payment probably will only cause 1 1 1 all the way because once you miss your due date, it will be 1. But if u pay the next mth, it will return back to 0. But assuming u pay late again but did pay, then it will still be reflected as 1. If your CCRIS payment shows forever 1, most underwriter will take it as habitual late and most will still approve the loan.

Btw read up the first page of this topic and u will roughly know what CCRIS is about.

Should be no problem.
Like I explained, 0 means no missed payment. 1 means missed 1 payment. the 111111 in between is exactly like the scenario I explained i.e. you paid late.

Like I say, read the first page which contains links and explanation on what is CCRIS.

Again, CCRIS is a repository where all banks are mandated to report every customer's loan amount, outstanding balance, payment history to BNM. It is not a BLACKLIST.

So to answer your question logically. If you sold off your car which in turn redeemed your hire purchase loan, are you still a hire purchase customer of the bank?! Unless you have yet to settle the full redemption amount then of course the bank will have full obligation to submit your loan details to CCRIS.

This post has been edited by b00n: Sep 13 2013, 12:44 AM

If not wrong in the town where BNM has no office presence or if one is lazy to visit the office; one can request through a bank branch the account is with and request. But then will have to wait couple of days and probably some admin charges by the bank.

Else there are no charges. It's FOC as highlighted if ine visit BNM directly.

Can visit CCRIS website to understand more instead of guessing.

Re read my post para 2 and para 3 and ponder upon it.

special attention should be removed once you have settled. But depending on the reporting timeline, it could still appear a month or 2 after because the banks are obligated to report the loan status for the month.

If after 2 maths still not removed, then one has the right to complain to the bank cc BNM.

Yeap.... RESCHEDULE is not a good sign. Most banks will reject unless the sales staff helps to fight and justify.

Then you have to ask the bank and request for explanation and removal of the tag.
Reschedule and Restructure is not a good sign for approval.

read my posts a few pages back. I have cleared the mis perception similar to the one below.


Pls refer back to my posts like I mentioned. Application status is kept for 12 mths. But loan facilities redeemed from the bank will no longer be reported to BNM because one is no longer a customer to the bank. This applies also to special attention account.

It is not about how many months it has been settled.
Once a legal case had been settled, consumer has the right to ask credit agencies (CTOS is credit agencies) to remove the record from their database. i.e. once you gave them the proof, they will update your record.

To some effect yes as I believe most banks also looks at credit card utilization rate besides considering payment records.

Also it will increase your Debt Service Ratio (DSR) as the more you use the higher your debt versus your salary.

This post has been edited by b00n: Mar 30 2015, 10:50 AM

Do not use the word NPL sparingly in this context. NPL technically means Non Performing Loans which generally classified in accounting standard as missing more than 3 months payments or if there is a restructure to the account.

CCRIS does not have "NPL" status just simple string of payment conduct for the past 12 months. i.e. in this case, assuming missing 2 months is the latest month it will be shown as such:
2 1 0 0 0 0 0 0 0 0 0 0

Then subsequent month where you only clear only 1 month then comes next month, CCRIS will show:
1 2 1 0 0 0 0 0 0 0 0 0

Then another month you pay all, then it will be:
0 1 2 1 0 0 0 0 0 0 0 0

So you can do the maths how long it will take to show:
0 0 0 0 0 0 0 0 0 0 0 0

Loan approval underwriting standard may differ from bank to bank. But to the obvious when you apply a loan and it shows scenario 1 above: 2 1 0 0 0 0 0 0 0 0 0 0 then logically it indicates in the recent month you start to default repayment and hence you are in financial difficulty. So if you put yourself in the banks position and if it is your money, will you lend?

1 2 1 0 0 0 0 0 0 0 0 0 may indicates improvement but possibly will not lend as well since there is no stabilization yet.

With 0 0 1 2 1 0 0 0 0 0 0 0 some banks will lend because they may consider it is a short term cash tied issue and has since showed for the past 4 months, customer is paying.

The myth on CCRIS or CTOS blacking listing is incorrect. They only publish information for the user to assess the customer's situation. Similarly if your own money and you are a lender, you will want to know a guys repayment capacity and behaviour before lending your money to the person. Would one lend anyone he don't know? The answer is a straight no. Why? Because there is no confidence.


Before I forgot, assuming the EPF + Cash is to settle the account; i.e. all paid up and closed/cancel. Then the record will no longer be in CCRIS.

Hope this clarifies.

Agreed.

Dear All,

Imagine this scenario, if the money is yours and you already know PTPTN is with already on a much more lower repayment than normal loan. Now comes a guy who has restructured the loan for an even lower amount of repayment; what would be the perception?

Policies differs from bank to bank. No one can say for sure nor do bankers disclose.