So many people ask this question: “What does it mean to be blacklisted?”
Blacklisting is a term used within the credit industry (banks, retail stores, etc) to report anyone who does not pay their debts (including companies). Emphasis on not paying as opposed to skipping one or two payments!
This is done with the hope that that person will one day require credit and the credit grantor they approach will then do a credit report check (sometimes referred to as an ITC check) with a credit bureau on the subject. On that report will be personal details, employment details and credit behaviour.
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