Hi All,
Need some guideline here. I previously was under bankrupcy by a bank due to cc and sumon by another 2 bank due to cc too. I had settle all the outstanding with the banks as well as full paid with Insolvency dept. I am discharged from bankrup since Jan'13.

I have 0 records in CCRIS but In my CTOS records, all the previous sumon record also has been remark as "SETTLED" or DISCHARGED".
My income is 5k a month with no others debts from any banks, i wanna to buy a car and loan 85K, i had try to submit HP applications to few banks since Feb, but all rejected due to CTOS history.

Seems none of the bank wanna to provde the loan, Can anyone advise how I can get the HP loan with my current status? Thanks

CTOS apps can be install at android photo, user can easy use smartphone to request CTOS self check report, but youo need to sign up a self check id with CTOS 1st.

Thanks ccvv, i think this should is the only way by wait till early next year, bank officer did told me that, some bank need 6 months, some need 12 months cooling period after we had provided settlement/discharged letter to CTOS and they will put remark as "SETTLED/DISCHARGED" at special remark column in CTOS report.
hopefully bank will consider my application at that time. I really need to buy a house 1st.

If you have CTOS black "mark", like legal action or bankrupcy which you had cleared already, provide the supporting docs to CTOS to request them to update accordingly, CTOS will update the latest status in the remark column.

You can register online CTOS to get your self CTOS report, so that you will know what has been captured by CTOS on you.

I would say bank normally check CTOS and CCRIS, I have good record in CCRIS but due to CTOS old record which has been cleared and remarked. I only able to get 60-70% of house loan even though I have stable and quite good income.

This should be bank risk assessment take place. Hope this help. GOOD LUCK

Bank normally don't let you know the reasons for reject. you have to know your own credit status, like print your own CCRIS and CTOS. For CCRIS, if your house loan and car loan payment not frequent late payment, should be ok, for CTOS, you can register to print your own CTOS report, if CTOS is blank, then is ok, if CTOS shown some legal case pending, this will be one of the reason bank reject the application, different bank have their own credit assessment, your income and commitment will be one of the factor during their assessment.

You may try others bank, or you can put a FD of said 10-20k in that bank as collateral for CC application. bank normally will consider unless you have really bad ccris report. CCRIS report shown last 12 months of your payment habits.

just my 2 cents

If not many "1" should be still fine.

Did you check your CTOS? do you have any legal action taken by bank for outstanding? like CC issue? if there is any legal action capture by CTOS even you had clear the debt outstanding already, you require to send supporting documents like release letter to CTOS for updating your record accordingly, CTOS will not delete the records in your report (if any), they will only update in "Remark" column. Base on new CCRA act, this records will only be delete after 24 months after you had settled the outstanding.

Anywhere, how long already your car loan and house loan? more than 12 months?

If you had provide the prove documents of settlement to CTOS, they will put a remark at SPECIAL REMARK : Settled on .....", if you had not provide the supporting docs to them, they will do NOTHING even you had settled with the bank.

Please take note that, after you provide the supporting documents to them, they will only put at remark column, they will NOT DELETE it, but under new CCRA 2010 which take effect this year, Credit report agencies like CTOS cannot reveal any records in their report if the default has been settled for > 24 months. Means that, they will only delete your record in the report after 24 months from the settlement date. you need to monitor your own on your report to ensure they had deleted after 24 months.

They had just deleted mine last month. Please keep all the supporting documents until all the records has been deleted.

Hope this help.

you may log in http://ppapk.treasury.gov.my/ to check

Bank will see the remark in the report, they have their internal assessment format, CTOS report is not the only assessment factor for approving the loan, they will see your income prove especially, If your income high enough with not much commitment or others outstanding loan in hand, the chances for them to approve the loan still high.

Good Luck

If mentioned earlier, every bank have their own assessment way, previous even my outstanding has been settle for more than 1.5 year, bank still reject my loan.
best is to clear the CTOS record which need 24 months after settlement, otherwise CTOS will not DELETE the record, the remark will still be there in the report.

Mine have 3 record, 2 just deleted has it already more than 24 months after settlement, still remaining one case with remark "Settled on Jan'13" I can only request them to delete that in Jan'15. After that my CTOS report will shown nothing after deleted all. Bank will not see anything at that time.

for yours, you may have to wait for 2 years then only CTOS will delete that.

CTOS normally won't automatically update/delete the records, not sure whether they had improve their service level now or not (I think they are not so efficient now).
Better monitor the report yourself (check once/twice a year) and provide the support to them to do the necessary update or DELETE the record. Don't worry, they will do so after verify the detail, this is my experience.

By the way, when I do self check in Aug'14 still free.

Other than CTOS, Another common credit reporting agency where local FI use is RAM Credit Information Sdn Bhd, Maybank use CTOS and RAM. Their function is the same by providing credit report to those FI and their are control by ministry of treasury under the CCRA 2010 act. You can register with RAM for free to have self check report.

Pending Telco outstanding and was captured by CRA may will still affect your credit rating. settle it and slowly re-build the credit rating.

CRA is credit report Agencies. Like CTOS or RAM n few others in Malaysia. Outstanding bill with telco as long as not kena sue ok la.

As long as Celcom don't sue you, it will not capture in CTOS or any others CRA report.

Since you have credit card and car loan which is still serving and this will be capture in CCRIS report, as long as your payment always not late, it should show good credit rating from CCRIS report, and this should be good as main supporting during bank loan application assessment., even through if the celcom bill issue captured by CRA, I think it will not affect your loan application (if any).

Since u hv yr hp approved, i think yr chance of getting the loan is still high provided yr prove of income is good and yr ccris record is very good. The good record reflect from ccris shown the existing credit status u have now cxompare to old ctos record which was an history for reference, most important is ctos record had cleared.

Actually i am the other way round. I hv ctos record but my house loan approve bwginning of the year but hp loan not approved, only able to get hp loan after 8 months of my house loan.

Ctos will not remove yr record in the system as yr settlement still within 2 yr, new act forced ctos to removed those records which already settled for more than 24 months. U can requedt ctos to delete that in nov'15. They will not entertain u before nov'15.

Try submit to few different bank n see which will approve, in tgis kind situation u might not able to get best rates buy won't be far away

Yes. Now we need to pay for the report even is online. Still FOC in Aug, started sept need to pay.

U need to monitor yourself and provide the relevant supporing docs to them to request to delete manually . CTOS have million of records in their sysyem, they will not auto delete.

With you as guarantor with clean n good ccris n ctos plus good income record should b no problem to get the loan, but chances getting 90% is low, probably 70-80%.

But i would suggest to buy a lower price car, as your brother income only 2500 and the installment will b around 1k per month plus petrol, toll n parking. It will easily eat up more than 50% of his income. He will be very hard to pay the installment and at the end may same like now owe 2 months installment. His ccris record will never be good.

Not recommended to buy above 70k. Just my 2 cents

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Yes, no one including bank cannot get your ctos report without your concern, BUT, when you are applying a loan, there will request you to sign to allow them to get or check with any CRA including ctos and ccris for your record or report. If you don't agree with the terms, your loan will not be process. Means that, bank will still get your report from ctos and ccris

This act is to means to treat equally fair to a personal and a Financial institute, If you do not apply any loan or do not grant any permission to anyone to access your data, ctos or others CRA shouldn't reveal your records to them.

In the event your apply a loan or apply something with FI or even Telco or apply for a job, will you grant permission for the FI or Telco or the company you wanted to apply a job to get your report from CTOS? sure you will, unless you don't want the loan or job.

CRA like CTOS need to remove those record where the case or default has been settle for more than 24 months provided you provide all the supporting documents. this is actually good and fair to us, at least you have a chance to clear all those old and bad record and make your record clean.

This act suppose to enforce in 15/04/14, but delay to 15/10/14, but I had requested CTOS to removed my old record in July, and they do. Now. I am clean

CTOS only keep report with Summon or legal action taken against you, if no legal action, no record in their report. This is GOOD.
For bad car instalment payment only capture in CCRIS, but since you had sold the car in Nov'14 and if the settlement to the bank had completed, Now Feb'15, your car loan record in CCRIS should be remove already unless you sold the car but loan not yet settle by buyer, check with your bank to confirm loan settlement and you can print your CCRIS report at BNM for your own checking and monitoring.