Guys pls i need ur advice. I borrowed money from one of these financial institution and i am having difficulty in paying it back due to this lockdown. They have threatened to blacklist my name with National Credit Bureau. Pls what is the implication when one is reported and blacklisted by the above body.

samworthyever:
Guys pls i need ur advice. I borrowed money from one of these financial institution and i am having difficulty in paying it back due to this lockdown. They have threatened to blacklist my name with National Credit Bureau. Pls what is the implication when one is reported and blacklisted by the above body.

Not really blacklisting. Companys that use credit bureau schedule update of all loans given, whether running or bad. These information pops up to anyone or organisation that have access to it (on demand ). For loan companies, credit check is run on these credit bureau sites, and it shows all details of your loan activities, which gives them insight for decision making..... though some financial institutions don't use it based on budget

Make them chil corona spoil ground