How CRB Listing Can Benefit A Borrower

Credit Reference Bureaus

It is important and beneficial to you as a borrower when lenders submit your financial details to the Credit Reference Bureaus (CRB) to be stored.

Borrowers are used to know that ,the work of the CRB is to keep information for blacklisted individuals or companies only which is not true. CRB stores the positive information about borrowers too and its called positive listing.

Some irresponsible lenders also just use CRB blacklisting as a punishment to borrowers who fail to repay their loans which is wrong too. Good lenders will always try as much as they can to keep the borrower's good name with the CRB.

The CRB should be used a useful database of borrowers' information to be accessed by both borrowers and lenders which is exactly the reason why the bureaus were created.

As a borrower, it is important to know your CRB details for example credit score, listing status, credit history and more. This information as recommended by law, should give you powers to negotiate the price of loans from various lenders.

Now that the interest rate cap was removed, lenders price loans according to each customer's case.With a good credit score, a good credit history and a positive listing, you as a borrower can convince the lenders to lower the interest for you by reminding the lenders that you have a positive listing with the CRB.

Even if you got blacklisted by a single lender recently but you know your credit history is good, you can still try and convince the lenders that you have been taking and repaying loans before as required before that single mistake happened. The lender may think of buying off the loan from the previous lender.

CRB is therefore not bad at all. It is the best store that gives you power to handle all the lenders in regard to loan pricing for you. If you're a trusted borrower backed up with good information stored by the CRB, you should be enjoying cheap loans.

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