General FAQs
Is this a part of Government?
No. CCBL is a privately owned company
What does CCBL do?
CCBL primarily maintains a database of credit payment information, which both companies & private citizens are allowed managed access to for a fee
Why should I give you my information (i.e. ID No., Full Name, Current Address, Home Ph. No., etc.) just to do a Credit Check?
First of all many people share the same or very similar names and sometimes even birthdates or have very close addresses.
Secondly, CCBL receives information from a wide cross section of sources and is constantly accumulating new sources. Many companies still do not take ID information when conducting transactions and, in the absence of this, once they submit your payment histories to be put on your credit file we must create a Temporary ID Number in order for the database to save it.
Thirdly, many individuals change addresses often.
Fourthly, individuals can change their names by reason of marriage, adoption or otherwise.
It means therefore that it is possible there is more than one record listed on the database for an individual/company. Once we receive your correct National Registration (ID) number (or corporate number in the case of a company) any records pertaining to you (or said company) will be streamlined under that number and your current address so there is only one record on file.
Furthermore, giving us this information allows us to ensure that the records we select for viewing will only pertain to the respective person who is having their credit checked as opposed to being those of someone else with the same or a very similar name &/or address.
In the event we have received incorrect personal or corporate information from one of the reporting companies it is much easier to correct the mistake.
The truth is that the information we ask of anyone coming to have a Credit Check done is no different from the type of information generally asked of them when they fill out credit applications.
Why should I have to pay to get my own information?
The reality is that CCBL is providing a service. We capture a range of credit transactions in one central database thus eliminating the need for consumers to wrack their brains to remember how many companies they have done business with over whatever time period.
We have overheads to be taken care of just like any other company in terms of maintaining the database and we still only charge the minimal fee of $25.00 for the individual consumer to be able to check on their own credit.
How did the Credit Bureau get my information?
In exchange for being granted access to CCBL’s database of credit payment histories, the respective company/companies with which you did business agreed to provide CCBL with information on how their own customers handled repayment of their accounts with them.
How long is information kept on the system?
The maximum period information is generally kept on the CCBL database is 5 years. In the event that while conducting a credit investigation we can verify an account has been repaid and listed on the database for a minimum period of 5 years the rating will be removed from the consumers’ credit file.
How can I change my credit rating [to something better]?
There is really no way one can change one’s credit rating as a rule because the rating is supposed to accurately reflect the manner in which the repayment agreement the consumer entered into was or is being adhered to.
It is a history and is therefore unchangeable except if:
- Upon investigation it becomes apparent there was an error made by the reporting company
- The information can no longer be verified by them (e.g. through loss/purging of data)
- Said company, upon reviewing the account, deems there to have been extreme mitigating circumstances and requests a rating change be made.
This being said, whether positive or negative, the minimum time any rating is usually held in the database is 5 years. The further one strays from the repayment plan the worse the rating gets until full repayment.
Credit Rating? What is that?
A Credit Rating is a number value which is assigned to each respective transaction and whose associated description is supposed to accurately reflect said account’s payment history. CCBL does not rate accounts as such: rather the consumers rate themselves by their repayment pattern. The scheme goes from 0 (zero) to 9 (nine). See Credit Rating description
What is the Status?
The Status, which is denoted by a single letter or a combination of letters works in conjunction with the Rating information to give a more detailed understanding of the state of a transaction by describing payment activity associated with it.
For instance, if it is still within the agreed billing cycle, the prefix ‘A’ would mean that the company involved considers the account being examined to be ACTIVE. The prefix ‘D’ would indicate Delinquency has occurred at some stage of repayment and so forth. See Status Code description.
How often is the database updated?
Updating is a continuous process and is two-pronged:
- On the one hand companies usually provide account details on a monthly basis – except in special cases where there are technical problems being experienced.
- On the other, changes are made daily by CCBL staff in terms of updating contact information, adjusting Rating and Status information for accuracy, merging of records and purging of records which have been listed for the requisite time period or are no longer relevant.
I have done transactions but I do not see any of them listed on my file, why is that?
There are several reasons transactions may not come up on your file. These include:
- If the transaction had not been undertaken with any of the companies reporting data to CCBL.
- If transactions were done in cash or,
- If no new credit transactions have been completed in more than 5-7 years since others were listed on the database.
Remember that CCBL maintains a database of credit payment histories. We are not the originators of information but merely “hold” it and make it available under specific terms. We can only therefore make available information which is forwarded to us.
I tried to make a transaction but I was turned down / asked to make a greater deposit because your company said I do not have a credit rating. Why is that?
Some consumers complain that companies require them to pay greater deposits because they “do not have a credit rating”. In reality, the situation usually is one whereby no credit transactions are on file at the time their record has been checked for the reasons given above.
Please be assured that while we empathize with persons in this situation, it is not the policy of CCBL to tell companies to favour any consumer over another. We merely act as an objective third party who makes various credit payment histories available to entities involved in extending credit facilities to their clients and have no decision-making power over the credit practices adopted by any company but ourselves.
What can I do to improve my credit rating?
First of all, you must keep your payments to our subscribers up to date. If you are behind in your payments to them, you need to bring them current, and make subsequent payments on time. This will result in your credit rating with them improving, and when they report the improved rating to us, we will update your credit files.
You can apply for credit with those subscribers with whom you have a poor payment history and who have contributed a negative rating to your credit history file, and make payments promptly on your new account. You may need to pay them a larger down payment, or provide some additional security, but once you pay them promptly they will provide us with a good rating on the new credit obtained from them. Subscribers tend to pay more attention to the newer credit ratings than to the old ones.
If I want to dispute my credit rating, what action can I take?
You can complete our Dispute/Change Form, in which we ask you to document your position. We then forward this information to the subscriber involved, and ask them to respond to your comments. The subscriber may agree to change your rating. However, should an impasse remain between you and the subscriber, then Credi-Check will act as an independent third party and make a decision based on our investigations. We then flag this account as a Disputed Account until such time that it is settled to the satisfaction of all concerned parties.
How do I access the CCBL training schedule and find out eligibility requirements?
Email our office or check this web site for our seminar schedule. Our seminars are open to all persons seeking to improve their knowledge in the areas of Credit Management and Debt Recovery. We cater to persons from all backgrounds, offering both introductory and advanced level seminars.
What other benefits will I derive from CCBL seminars?
In addition to increasing your knowledge base, you will benefit from the interaction with other credit officers in your and other industries. Our seminar structure encourages and facilitates the sharing of ideas and solutions to common problems amongst other participants.
Coming from a Caribbean country, which CCBL credit management services are accessible to my organization?
All services are available in Barbados. Seminars and consulting services are available throughout the Caribbean. Our Enquiry and Reporting services are currently being rolled out in the OECS. Please contact our office for further information.
How can I be sure that my personal credit information is not accessible to non-authorized users (hackers)?
We employ standard password security, firewalls, encryption technology and other security measures. We also maintain a log of queries done through our subscribers and audit this on a regular basis. We are proud of our unblemished security record.
General FAQs
Is this a part of Government?
No. CCBL is a privately owned company
What does CCBL do?
CCBL primarily maintains a database of credit payment information, which both companies & private citizens are allowed managed access to for a fee
Why should I give you my information (i.e. ID No., Full Name, Current Address, Home Ph. No., etc.) just to do a Credit Check?
First of all many people share the same or very similar names and sometimes even birthdates or have very close addresses.
Secondly, CCBL receives information from a wide cross section of sources and is constantly accumulating new sources. Many companies still do not take ID information when conducting transactions and, in the absence of this, once they submit your payment histories to be put on your credit file we must create a Temporary ID Number in order for the database to save it.
Thirdly, many individuals change addresses often.
Fourthly, individuals can change their names by reason of marriage, adoption or otherwise.
It means therefore that it is possible there is more than one record listed on the database for an individual/company. Once we receive your correct National Registration (ID) number (or corporate number in the case of a company) any records pertaining to you (or said company) will be streamlined under that number and your current address so there is only one record on file.
Furthermore, giving us this information allows us to ensure that the records we select for viewing will only pertain to the respective person who is having their credit checked as opposed to being those of someone else with the same or a very similar name &/or address.
In the event we have received incorrect personal or corporate information from one of the reporting companies it is much easier to correct the mistake.
The truth is that the information we ask of anyone coming to have a Credit Check done is no different from the type of information generally asked of them when they fill out credit applications.
Why should I have to pay to get my own information?
The reality is that CCBL is providing a service. We capture a range of credit transactions in one central database thus eliminating the need for consumers to wrack their brains to remember how many companies they have done business with over whatever time period.
We have overheads to be taken care of just like any other company in terms of maintaining the database and we still only charge the minimal fee of $25.00 for the individual consumer to be able to check on their own credit.
How did the Credit Bureau get my information?
In exchange for being granted access to CCBL’s database of credit payment histories, the respective company/companies with which you did business agreed to provide CCBL with information on how their own customers handled repayment of their accounts with them.
How long is information kept on the system?
The maximum period information is generally kept on the CCBL database is 5 years. In the event that while conducting a credit investigation we can verify an account has been repaid and listed on the database for a minimum period of 5 years the rating will be removed from the consumers’ credit file.
How can I change my credit rating [to something better]?
There is really no way one can change one’s credit rating as a rule because the rating is supposed to accurately reflect the manner in which the repayment agreement the consumer entered into was or is being adhered to.
It is a history and is therefore unchangeable except if:
- Upon investigation it becomes apparent there was an error made by the reporting company
- The information can no longer be verified by them (e.g. through loss/purging of data)
- Said company, upon reviewing the account, deems there to have been extreme mitigating circumstances and requests a rating change be made.
This being said, whether positive or negative, the minimum time any rating is usually held in the database is 5 years. The further one strays from the repayment plan the worse the rating gets until full repayment.
Credit Rating? What is that?
A Credit Rating is a number value which is assigned to each respective transaction and whose associated description is supposed to accurately reflect said account’s payment history. CCBL does not rate accounts as such: rather the consumers rate themselves by their repayment pattern. The scheme goes from 0 (zero) to 9 (nine). See Credit Rating description
What is the Status?
The Status, which is denoted by a single letter or a combination of letters works in conjunction with the Rating information to give a more detailed understanding of the state of a transaction by describing payment activity associated with it.
For instance, if it is still within the agreed billing cycle, the prefix ‘A’ would mean that the company involved considers the account being examined to be ACTIVE. The prefix ‘D’ would indicate Delinquency has occurred at some stage of repayment and so forth. See Status Code description.
How often is the database updated?
Updating is a continuous process and is two-pronged:
- On the one hand companies usually provide account details on a monthly basis – except in special cases where there are technical problems being experienced.
- On the other, changes are made daily by CCBL staff in terms of updating contact information, adjusting Rating and Status information for accuracy, merging of records and purging of records which have been listed for the requisite time period or are no longer relevant.
I have done transactions but I do not see any of them listed on my file, why is that?
There are several reasons transactions may not come up on your file. These include:
- If the transaction had not been undertaken with any of the companies reporting data to CCBL.
- If transactions were done in cash or,
- If no new credit transactions have been completed in more than 5-7 years since others were listed on the database.
Remember that CCBL maintains a database of credit payment histories. We are not the originators of information but merely “hold” it and make it available under specific terms. We can only therefore make available information which is forwarded to us.
I tried to make a transaction but I was turned down / asked to make a greater deposit because your company said I do not have a credit rating. Why is that?
Some consumers complain that companies require them to pay greater deposits because they “do not have a credit rating”. In reality, the situation usually is one whereby no credit transactions are on file at the time their record has been checked for the reasons given above.
Please be assured that while we empathize with persons in this situation, it is not the policy of CCBL to tell companies to favour any consumer over another. We merely act as an objective third party who makes various credit payment histories available to entities involved in extending credit facilities to their clients and have no decision-making power over the credit practices adopted by any company but ourselves.
What can I do to improve my credit rating?
First of all, you must keep your payments to our subscribers up to date. If you are behind in your payments to them, you need to bring them current, and make subsequent payments on time. This will result in your credit rating with them improving, and when they report the improved rating to us, we will update your credit files.
You can apply for credit with those subscribers with whom you have a poor payment history and who have contributed a negative rating to your credit history file, and make payments promptly on your new account. You may need to pay them a larger down payment, or provide some additional security, but once you pay them promptly they will provide us with a good rating on the new credit obtained from them. Subscribers tend to pay more attention to the newer credit ratings than to the old ones.
If I want to dispute my credit rating, what action can I take?
You can complete our Dispute/Change Form, in which we ask you to document your position. We then forward this information to the subscriber involved, and ask them to respond to your comments. The subscriber may agree to change your rating. However, should an impasse remain between you and the subscriber, then Credi-Check will act as an independent third party and make a decision based on our investigations. We then flag this account as a Disputed Account until such time that it is settled to the satisfaction of all concerned parties.
How do I access the CCBL training schedule and find out eligibility requirements?
Email our office or check this web site for our seminar schedule. Our seminars are open to all persons seeking to improve their knowledge in the areas of Credit Management and Debt Recovery. We cater to persons from all backgrounds, offering both introductory and advanced level seminars.
What other benefits will I derive from CCBL seminars?
In addition to increasing your knowledge base, you will benefit from the interaction with other credit officers in your and other industries. Our seminar structure encourages and facilitates the sharing of ideas and solutions to common problems amongst other participants.
Coming from a Caribbean country, which CCBL credit management services are accessible to my organization?
All services are available in Barbados. Seminars and consulting services are available throughout the Caribbean. Our Enquiry and Reporting services are currently being rolled out in the OECS. Please contact our office for further information.
How can I be sure that my personal credit information is not accessible to non-authorized users (hackers)?
We employ standard password security, firewalls, encryption technology and other security measures. We also maintain a log of queries done through our subscribers and audit this on a regular basis. We are proud of our unblemished security record.