Did you unload your credit map from the ABC Bank and was confronted with information that has a credit down to the asset and do not know what it means? Maybe you are trying to get credit and you see that the banks will not grant you … well, in this article we will explain to you what a downed loan means and give you a very important alert.
A Bank Classification
Asset-backed credit is a status of several that exist on ABC Bank’s credit maps. If everything is going well, we have a regular credit. If you are late, we refer to “overdue credit.” If the bank tries to recover the credit in court we have the status “due in court litigation”. If, finally, the bank gave up recovering the amount owed puts the status of “Credit Down to Assets”.
Taking out an asset credit means that the bank withdraws this right from its accounts. That is, it has no hope of getting the money back, which does not invalidate that it sells the credit to collection institutions that will then look for all the mechanisms at their disposal (some of more dubious legality) to recover the amounts in delay.
How to Clear the Black List Name?
If you have a credit with this categorization, be aware that you will only clear your name if you pay the amount in arrears or if the bank sells this credit to third parties (in this situation your name leaves the ABC Bank but the customer maintains the obligation to pay the credit amount in arrears). So perhaps the best alternative is to even try to negotiate with the bank in question to regularize this situation, which may involve making a payment plan.
If you have your name “spotted” on the ABC Bank responsibilities map, you will know that you will not have access to credit , even if there are institutions that tell you that it is possible (of course, for a “small” fee). In practice, it is forbidden by law to have access to credit, as banks are required to assess the financial capacity of their customers. A default credit is a clear indication of financial difficulty and therefore can not have access to credit.