Yours is known as a written off account. Anyway, the current situation is after you've fully settled the debt, most bank would drop your record after 6 months.

However on CTOS, you'll need to go to CTOS yourself to check and after you've fully settled; get the settlement letter to ask CTOS to update your record.

It is because of different underwriting criteria from bank to bank.
Also, there's a big difference between what is known as secured loan (properties, hire purchase) vs unsecured loan (personal loan, credit card).

Housing loan you are able to secured because they have the property in hand. Personal loan, considering your pass records, they might think twice. So it's different bank different underwriting policies.