Published On: Tue, May 3rd, 2016

What to Do When You Are Blacklisted by the Bank

Getting blacklisted from the bank is no laughing matter. It is a serious condition that may affect your standing, your financial capability and your ability to acquire personal loans for your use. During these scenarios, make sure to follow these procedures, so you’ll have full freedom to pursue transactions and get the loans you want.

Do a Survey of Your Financial Standing

Often, the blacklist from the bank comes as a surprise. It’s highly possible that you have just forgotten to settle a payable. Something must have slipped your mind, or your current profession or scheduled engagements might have prevented you to go to the bank. The first step to getting cleared from the dreaded bank blacklist is to do a thorough study and review of your current financial standing. Are your credit card bills up to date? Are there personal loans you haven’t taken care off? Are their postdated checks that bounced? How is your relationship with your bank? Answering these questions will help you identify the main root case of your problem.

photo/ Michael Jarmoluk via pixabay

photo/ Michael Jarmoluk via pixabay

Settle Your Payables, Including Credit Card Bills and Personal Loans

Of course, the next step is to settle your bills. Make a list of everything that you have to pay, whether it be outstanding balances, credit card bills, debit card bills, personal loans or mortgages. Make a visit to the bank and pay them off one by one.

This is a very essential step in the process. It’s vital that this is completed almost immediately. So make sure everything has been paid off. Having one unsettled bill will not remove the blacklist status that you currently have.

Keep Your Credit Score in Order

After settling all of your bills, make sure you have an outstanding credit score. The best way to do this is to manage your debt effectively. Don’t let any bill get past the due date. At the same time, don’t shut down credit and debit cards, don’t close down existing bank accounts, and make sure there’s money going in and out of your bank accounts. Also, reduce your application for new credit. Finally, monitor your credit report to ensure that everything is fine.

This might take some time, but we’re certain it’s going to be worth it.

Don’t Write Checks that Will Bounce

Make sure all the checks you write will be processed smoothly. Bounced checks will cause further harm to your already negative standing.

Keep Your Bank Account at a Safe and Healthy Balance

Finally, make sure there’s always a substantial amount of money in your bank account. The presence of currency makes banks comfortable with trusting you. After all, why would they give personal loans to those men and women who can’t even save money?

Make sure to follow this guide correctly. Don’t skip any steps. It might take a bit of time, or even an entire year, but once you keep on it, you should be in the bank’s good graces.

Author: Anwar Hussain

 photo /tyler eugene wilson

photo /tyler eugene wilson

On the DISPATCH: Headlines  Local  Opinion

Subscribe to Weekly Newsletter

* indicates required

About the Author

- The generic Dispatch designation, used primarily for press releases or syndicated content, but may be used for guest author requesting a generic nomenclature

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>



The Global Dispatch Facebook page- click here

Movie News Facebook page - click here

Television News Facebook page - click here

Weird News Facebook page - click here