Stop lists are black lists of banks, getting into which definitely entails a refusal to issue a loan. How to protect yourself from being included in the stop list and is it possible to restore the reputation of a bona fide borrower?
Who is included in the bank's stop list
Being in the stop-list of a bank entails the deprivation of access to many services, and also reduces to zero the possibility of obtaining a loan from this bank. If one bank is blacklisted, there is a high probability of getting rejections in others. After all, many banks exchange such information with partner credit organizations.
When assessing a borrower, banks can rely both on the internal stop list and on the data in the BCH. Banks need their own stop list to reduce the time spent on assessing the borrower's creditworthiness. It contains all information about the client's requests and the history of his interaction with the bank.
First of all, defaulters on loans and those who regularly missed monthly payments are included in the bank's stop list. In order to protect yourself from being blacklisted, you just have to pay the loan in good faith and avoid serious delays. If the bank in the past was able to collect the debt only in court, such a borrower is unlikely to receive a loan from any credit institution.
Each bank may have its own criteria for getting the borrower into the stop list, for some the slightest delay by one day may be the reason, other banks are less categorical and continue to cooperate with such a client.
Also, the stop list includes people who provided inaccurate false information about themselves when filling out the questionnaire, as well as scammers and persons with a criminal past. Borrowers with minor administrative offenses could also get on the stop list. The list of unscrupulous borrowers also includes persons who are registered in dispensaries or psychological clinics, as well as incapacitated citizens. It is obvious that the loans issued to alcoholics and drug addicts are deliberately irrecoverable.
How to restore your reputation as a bona fide borrower
It should be borne in mind that placing a borrower on a stop-list is not a lifelong phenomenon. To restore your reputation, you must initially fulfill all credit obligations in full, as well as pay fines and penalties. At the same time, it is important to obtain a certificate of absence of debt from the bank.
To restore your own reputation, it is advisable to continue using the bank's services in a different capacity. For example, open a salary account in it, place a deposit, etc.
Then, it is likely that after a certain period of time, you will again be given access to credit and other banking products.
