CHECK OUT WHAT WILL HAPPEN IF YOU DON’T CLEAR YOUR NAME ON CRB LIST.

Research show that so many youths right now are listed in CRB over default loans. Right now it has become so easy easy to acquire loans, not like old days where you could only get a loan from a bank and after a long process.Right now, there are so many online platform that are giving loan after following few steps.

These platforms have attracted so many youths who are now ready to acquire loans with no intentions of paying back. To some extent they don’t really consider the long term effects of these outstanding loans. Online platform that off loans have the ability to report anyone who is a defaulter of their loans to CRB.

CRB means Credit Reference Bureau, this is because at any time you did to apply loan from banks and other money lending platform they will first need to check your credit worthy in the CRB.

So once you are listed in CRB and you don’t make efforts to clear, the first thing that happens is that you end up reducing your credit score. That is the banks reduce your loan limit since there is a proof a you may not pay the loans. In time all other platform will be ready to offer you a loan since you will not be worthy it.

Secondly, being listed in CRB can reduce the chances of getting a job since it is as well recoded in your certificate of good conduct. It is very important you make an effort of clearing if you are listed in CRB.

Story courtesy: Opera