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.
Content created and supplied by: Lucasentertainment (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More