Do I get told if I am Blacklisted?

Question

How do you get blacklisted and what does this term mean? Is it the same as having a bad credit rating? I am constantly over my overdraft limit, then I get paid and pay it off, then I go back over it. Does this mean I am blacklisted? Will I ever be able to get a mortgage if I am?
Thanks

Answer 1

Don't confuse bad credit with the so-called "blacklist". Going over your overdraft limit will get you negative credit rating points but you say you always pay it off - so why not discuss an increased limit with the bank you use - they don't usually want to cause you issues but you will pay penalty charges if you break the limit all the time.



The "blacklist" relates to the situation where the bank or other financial institution is put on notice that you are suspected of money laundering and they will then refuse to open new accounts for you or to receive certain types of credit into your account - you won't be told (it is illegal) but you will notice.

Answer 2

Yes, you have been refused credit you have a right to ask which credit reference agency they used. Under the Freedom of information act and the Data Protection Acts, for a small fee you have the right to be sent all the information that they're holding on you. You also have a legal right to have it corrected if it's wrong



Being constantly over your overdraft limit isn't really helping, but always being overdrawn but within your overdraft limit helps you no end as having no credit history at all can be just as bad. My brother saved a deposit for a house going into the building society every week with what would be a mortgage payment only to be told when he applied for his mortgage that he couldn't have one because he NEVER had any other credit. So he had to start a bit of borrowing with other people to get himself credit worthy so as he could get his mortgage.



Perhaps it's worth asking for a bigger overdraft, if you're paying out a lot in unauthorised overdraft fees. Learning to live more within your means may be part of the problem too.



Blacklisted refers to information that a Credit Reference Agency are holding on you only really about defaults (failure to pay when due) and County Court Judgements.

Answer 3

How Do You Get Blacklisted

Answer 4

The term blacklist is simply a way of saying that someone or some organization has decided not to associate with you. I certainly could apply to your credit but it has no legal meaning. Much like saying "he is on my bad list".



Your credit rating is another matter. Get a copy of your credit report and score from Transunion credit and see for yourself.

Answer 5

Contrary to belief there is no such thing as being 'blacklisted', it just doesnt exist. You will have a credit file which shows things like any loans, credit cards, etc and creditors can access this when you apply to borrow from them to check your payment history. Your overdraft may or may not show on your credit file. It may be worth you obtaining a copy of your credit file from experian or equifax so you can see for yourself how your credit rating stands.

Answer 6

No, you are not blacklisted. You sound like the kind of customer who helps the banks raise the billions of profits they make every year. If you could make some extra special effort to keep your account in credit every month you would improve your life significantly but the bank may not be so happy!

Answer 7

you will not be told, because there is no such thing. lenders make thier decisions based on your credit history. The dont know whether other credit applications were sucessful, so there is no "blacklist". however if you have a bad history they all look at you and go "no chance" so it might seem like it.

Answer 8

no such thing as blacklisted! u can have a bad credit rating but some company's still loan money out to people with bad credit! bad thing is that interest rate is higher!



good luck

Answer 9

you get blacklisted when you dont pay your debts or are constantly late. dont worry about getting a mortgage, you will always find someone to give you one regardless of what your credit is like providing your not bankrupt.

Answer 10

I owe money to two banks am I blacklisted

Answer 11

1

Answer 12

Not paying bills on time,in arrears with rent,late paying

poll tax,in arrears with you payments for car, county court order,the list goes on that black list you and it stays with you for 8 yrs.

Answer 13

as I know yes, they inform them.

Answer 14

i dont think so.