overdue repayment in Kenya resulting in being blacklisted by CRBs

Blacklisting is currently a hot topic in the growing financial markets. The dynamic development of new technology increases the risk of overdue repayments by customers using mobile apps to get a loan.

[Update:12.04.2022]

But what does it mean exactly to be blacklisted?

Back in time, blacklists were created to exclude or punish something or someone. Today, in the financial world, they are used to collect information about borrowers’ poor credit repayment history. Putting it in a nutshell – late repayment may result in future problems with the loan accessibility. The potential lender will analyze your repayment history twice before making a decision to grant you a loan. Therefore you need to organize your expenses thoroughly and remember about future payments.

As we can read on CreditInfo`s website „It takes 90 days for banks and 30 days for mobile lenders after which individuals are notified that they are going to be listed and they don’t make any payment on their loan.”

View also: CRB blacklisting nightmare

The CRB’s blacklisting nightmare…

Have you ever missed any payments? I bet you have. And you know how badly it influences your credibility… Thus, when being in arrears, despite going into hiding, it’s much better to search for the proper solution.

Go to great lengths to prove that, regardless of your current problems, you’re a responsible person focused on finding a solution.

Where is the information about the credit history stored?

All consumer credit information is gathered by the Credit Reference Bureau (CRB) – an institution responsible for collecting data (updated monthly) and sharing it with financial providers in Kenya.

CBR introduces discipline among the borrowers as they can be blacklisted even for some little overdue. Needless to say, the Kenyans have various opinions in this case;)

How to contact CRB

Currently, there are 3 licensed organizations in Kenya, responsible for providing credit information services: TransUnion Kenya, Metropol and CreditInfo.

These companies, among others, offer services mentioned below:

Credit reports – describing your credit status
Clearance certificates – proving you’ve settled your debts and your credit status is good
SMS alerts – informing when any activity on your credit profile takes place

More detailed information is gathered underneath:

TransUnion Kenya:
2nd Floor Delta Annex,
Ring road, Westlands, Nairobi, Kenya
P O Box 46406 -00100 Nairobi, Kenya
Tel: +254 730 651 000
Fax: +254 203 751 344
[email protected]
https://www.transunionafrica.com/
For instant credit status information text your name to 21272

Metropol:
Metropol CRB Contact Centre
Barclays Plaza, 9th Floor
Loita Street, Nairobi-Kenya
Tel:
+254 202 689 881
+254 709 834 000
+254 709 228 000
+254 730 884 000

Homepage

*433# Safaricom line to check your credit status

CreditInfo:
Park Suites, Office 12, Second Floor,
Parklands Road,
PO Box 38941-00623 Parklands, Nairobi, Kenya
Tel:
+0 709 593 000
+254 718 842 833
+254 735 880 880
+254 203 757 272
https://ke.creditinfo.com/
[email protected]

Some useful tips on how to clear your data from the Credit Reference Bureau (CRB)

First and foremost – you need to repay your debt. Run out of money at the moment? Renegotiate current payment conditions with your finance provider. Once you have it settled, you are ready to contact one of the institutions listed above and apply for a clearance certificate. Obtaining one would probably take a few days; however, it depends on the institution you cooperate with.

How does the clearance certificate look like, and how much does it cost

Below you may find the samples of documents issued by Metropol and CreditInfo. You can also find them via the internet. Such a certificate confirms that you’re not blacklisted and allows you to apply for another loan if necessary.

To receive the clearance certificate, you must pay Ksh2200 using a bank transfer or your MPESA account.

A similar procedure applies when checking your CRB status; however, it’s good to know, you may do it via some mobile apps as well:

Statistics show that over 500k Kenyan are blacklisted by the CRB. For your financial security, remember to check from time to time if your personal data hasn`t been used without your knowledge.

If such a situation occurs and you have been mistakenly registered in CRB, you should clarify it immediately with your financial provider.

Bear in mind that CRB collects information from commercial banks, MFI’s, Loan Apps, SACCOs and other financial institutions. Data is being held for 5 years.

Now you are empowered with the proper knowledge. Do not hesitate to use it.