A CRB in Kenya(Credit Reference Bureau) is a company that gathers data on loans which are issued by lending institutions, and then creates reports (also known as credit reports) on a borrower current and past loans statuses. With this data, a CRB is able to draw out the loan repayment patterns of each borrower. We are going to discuss how to check your CRB status in Kenya and how to get out of CRB blacklist.
Always since financial institutions like HELB, banks, SACCOs, and MPESA began listing debtors on CRB, the necessity to clear your name and improve your possibilities of getting a second loan have been on the increase. Lifting your debt is no longer adequate. You have to know that CRB clearance to regain your borrowing power (your credit score).
Why Should You Care?
A CRB statement lets you know if you are booked as a loan defaulter or not. If CRB Kenya holds your name on its list of defaulters, you:
- Have very minimal chances of being employed if your potential employer uses CRB records as hiring criteria. A lot of companies and institutions nowadays avoid hiring loan defaulters.
- Any coverage company, be it car insurance or a personal health cover provider will charge you high-priced premiums compared to someone with a solid credit score
- Asset financing or easy loans will be harder to come by. Banks or SACCOs won’t grant you money readily since they have every reason to believe that you won’t pay back
How to Get Clearance from CRB Kenya
In this exclusive post, we are going to approach this from two faces. In the first case here, we will assume that you are a good citizen who pays his or her debts in time. The second approach here will believe that you are an already listed defaulter attempting to get their name from CRB’s dreaded list.
Obtaining a CRB Clearance Certificate If Not Listed
When you are not placed on CRB, getting the report and clearance certificate is comparatively more straightforward. You’ll have to tender your application through a registered credit reference bureau in Kenya. You will have to pay Ksh. 2200 to get the certificate. Some of your options include:
- itaxCredit Info
- Credit Reference Bureau Africa Ltd t/a TransUnion
- Metropol Credit Reference
It is simple to tell if one is listed on CRB or if they are not listed. If you are a top of your financial life, you can say if you have any unsettled loans with:
- A bank
- Higher education loans board
- Mobile banking platforms
- An employer
You default a loan when you break its repayment terms and conditions. Defaulting your mortgage could be missing three consecutive installments while defaulting a Safaricom MShwari loan is missing to repay on the stipulated date.
If you want to be so sure, you can get your credit report by sending registering with mobile-based platforms. SMS your name to 21272 and pay Ks. 50 to get a yearly report at no costa at all.
Step by step instructions to Get the CRB Clearance if You Are a Defaulter
When you have defaulted your debts and are listed, try to clear the loan with your defaulter, ie pay what you owe them. When it is a bank, and it is a big loan you can’t remove in one payment, walk to your local branch, renegotiate with your lender and come up with new instalments you can manage. You will need to clear your pending defaulted premiums to restore your credit score.
If that is impossible for you, then you will have to release your security, eg land to cover the loan and then clear your name.
Once you have fully settled your scores with the lender, it usually takes one day or two for your new CRB credit score ratings to reflect on CRB.
CRB Clearance How Long Does it Take
Now Give yourself up to three business days before applying for the certificate after doing your clearances. A day is though enough in some cases since banks send back daily reports to the CRB guys so technically your information should update on a regular basis.
The total time between the CRB Kenya clearance certificate request and certificate issuance differs depending on which institution that you choose to work with.
Note that A CRB certificate of authorisation is only valid for the day it is issued thanks to the daily borrowers’ record updates. At all times try to make an application just when you need it. A lot of institutions will not be happy with certificates that are months old. The Ks 2200 will be paid straight to your CRB of choice via a bank account or MPESA.
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Metropol Credit Reference Bureau (CRB) Limited Managing Director: Mr Sam Omukoko
Postal Address: P.O. Box 35331 – 00200, Nairobi
Telephone line: +254 – 020 – 2713575
Physical Address: 1st Floor, Shelter Afrique Centre, Upper Hill, Nairobi
Creditinfo Credit Reference Bureau Kenya Limited
Ag Chief Executive Officer: Mr Stephen Kamau Kunyiha
Postal Address: P.O. Box 38941 – 00623, Nairobi
Telephone line: +254 – 020 – 3757272
Mobile: +254 735 880880 / +254 718 842833
Physical Address: Park Suites, Suite 12, 2nd Floor, Parklands Road, Nairobi
CHECKING CRB STATUS VIA SMS WITH TRANSUNION
- Send your names to 21272
- Then, Enter your National ID number
- Choose CC (meaning Credit Status)
- You will then Receive your CRB status. Goodwill means you are not while default will say you are blacklisted
TRANSUNION Kenya CONTACTS
Office base: Prosperity House, Westlands Rd, Off Museum Hill in Westlands, Nairobi.
Mobile Number: +254 20 3751799 or 0730651000
Email address: email@example.com
Official website: http://www.transunionnipashe.co.ke
GET CRB STATUS IN KENYA WITH METROPOL
How To Register with Metropol,
- One will require to pay Ksh. 50 as enrollment fees through their Paybill number 220388 and handle your national ID number as the account number.
- You will later receive an SMS with your PIN details, a Reference Number and a special Link
You will then go ahead to get several services that are offered by the company charged at a cost for instance credit Score at kes150, Credit Report at ksh250 and the Clearance Certificate at ksh2200. Metropol Kenya services can also be received through their website, dialing*433# and the Metropol crystobol app.
METROPOL CRB Kenya CONTACTS
- Office base: 9th Floor, Barclays Plaza, Loita Street, Nairobi (the Metropol Credit Reference Bureau Limited)
- Mobile Number: +254709834000
- Metropol Official website: http://metropol.co.ke/
You can also check this article here for more contacts
Service branch is found at the Eldo Bliss Hotel, 1st floor.
Service Branch established at the NSSF building, 6th floor, North Wing.
Nakuru service branch is placed at the Wilmur House.
CRB Clearance: How long does it take?
Give yourself around three days before applying for the certificate of clearance after doing your clearances.
A day is, nonetheless, enough in some situations since banks send back daily reports to the CRB so technically your report should update on a daily basis.
The time within the CRB Kenya clearance certificate application and certificate issuance ranges depending on which institution you wish to work with.
What CRB Credit Enquiries reveal about you
A credit enquiry is a when a credit issuer checks your credit report each time you apply for credit.
Whether you fit for a credit facility or not, the analysis will be captured in your credit record.
The data on the number of credit enquiries is available to any another credit provider who checks on the credit report.
For instance, if KCB Bank makes an inquiry when you apply for credit with Equity Bank when Family Bank makes their enquiry as well, they will be able to see that KCB had enquired as well.
The higher the number of credit checks that are done by moneylenders, the higher the number of enquiries being obtained on the report. This type is known as a hard enquiry.
The Hard enquiries can affect your credit score negatively.
Meaning of a “Write Off” in CRB
For those people who have accessed their credit report previously, you might have come across a credit standing showing as “Write Off”.
A write-off” is an accounting phrase which means that the lender doesn’t count the cash that you owe them as an asset of the company any longer.
It is a lousy mortgage which the bank or lender believes they have no more hope of getting from you.
For the lender of the money, the write-off means recording a loss in the books and ending collection efforts.
Even after writing off your debt that you haven’t paid, a lender may try to reclaim the money you owe them by selling the debt to a debt collection agency.
How to Write Off Affects Access to Loans:
1. Write-offs contribute to bad credit.
2. The higher the write-offs you have on your credit report, the deeper your score will drop.
3. A written off debt is still a debt, and consequently, you are still a debtor.
4. With just one write off on your credit score, the interest rate will rise exceedingly.
5. Lenders typically see you as far worse than a late payer.
What to Do if You Have a Write-Off?
1. Keep repaying your current bills and bypass this issue in the future.
2. It can be useful to pay a written-off account, even though it has already hit your credit report.
3. You can consult with the creditor to mark the account as working/active when you start paying.
A recent Research reveals that more than 500,000 Kenyans are listed with CRB blacklist as defaulters. For these people to get another loan from any institution, they have to remove their names from the CRB list, and the procedure for discharge of their names from the list is as already explained above.
The very first thing to do is to confirm whether your name or ID is on the list. Once this is confirmed, visit your lender and try to negotiate payment terms.
If your loan lender agrees to your inquiry, they will write a signed letter to the Credit Reference Bureau notifying them that you have fully complied with their terms. You will additionally be required to approach one of the bureaus to receive a certificate.