CRB stands for the Credit Reference Bureau and it is a blacklist for loan defaulters.
CRB is a firm that collects information from financial institutions and provides consumer credit information on individual consumers.
Being listed on the CRB may either bar you from accessing future loans or affect the amount you are qualified to receive.
Another point to note is that you can be listed on the CRB favorably which boosts your chances of accessing higher loans.
Once listed as a defaulter on the CRB, an individual will have to part with Kes.2,200 to be delisted and get a clearance certificate.
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Companies Authorised to Delist Defaulters in Kenya
As of 2019, there were three companies authorized to delist defaulters from CRB.
These are Metropol Credit Reference Bureau Limited, Creditinfo Credit Reference Bureau Kenya Limited, and Credit Reference Bureau Africa Limited (Trans Union).
The process to getting your positive credit status back is as follows:-
Contact any of the CRB companies listed above
They will provide you with a form to fill, which can be done online
Pay the Kes.2,200 fee
Receive CRB clearance.
Make sure you have paid the loan you had defaulted in full before seeking clearance.
