Why BANK NEGARA still black list when I already settled my credit card balance in full?How am I to settle?

Question

I had an outstanding balance of RM 2000 and I already settled it.I was even been given RELEASE LETTER for fully settling he amount,but now I am facing problem with banks as they are telling me, that my name is still under black list. Why does this happen? Once if some one has settled then automatically his blacklist data should be corrected immideately. Why does this happen? Cant any of my fellow Malaysians voice this out? This is crazy.

Answer 1

While I can't speak for Malay law or procedures, it's common practice to keep track of your record with banks and creditors. Once you've established a reputation as a poor risk it will follow you around for some time. This is standard business practice.