Broken Car Can Repossed by the bank?

[yapoy86]

he's lying... usually naka black list na yan sa lahat nang banks.. try mo mag loan sa iba..

Correct.. may regulation na regarding credit standing na required mag share ng info ang mga financial institution private or government.. kaya pag may utang ka pwede ka ma deny due to your past credit standing

[Ed.Autel]

Banks usually submit the names of individuals who default on their loan obligation (i.e. car loan, real estate, credit card, etc.) to CMAP and/or CIBI. The 2 bureaus also gather additional information of court cases (civil and criminal) and this database is accessed by banks as reference to conduct a background check on the character and/or capacity to pay of the borrower.

If your name is listed, will be a futile exercise as your loan application will be denied. In the event that your name is listed only in a court case, it should only be an adverse finding if the borrower is the defendant or co-defendant to the case.

CMAP - Credit Mgt. Association of the Phils.
CIBI - Credit Information Bureau Inc.

[Dr.Kamiya]

Depends on gaano kasipag mag submit sa CMAP yung tao in charge of your account sa EWB. Possible na wala pang record if recently pa lang nagka problem.

[_Qwerty_]

yung barkada ko nahatak yung sasakyan nya then kinabukasan he tried to buy another car denied na agad sya sa application nya..