When the term blacklisting is mentioned it normally conjures up thoughts of negative data on your credit record, but the reality is that credit bureaus hold both negative and positive data. In the past blacklisting was only used for negative data but the combination of both has proved beneficial to the business sector in predicting the future behaviour of consumers.
Credit providers can use the platform to see the good, the bad and the ugly side of your credit history. Often credit checks bring up old forgotten and bad credit decisions, but keep in mind bad credit doesn’t last forever.
You credit score is a summary of how risky you may be at any point in time for the company providing you credit, but know that new data is added to your credit score and thus if you mishandled credit in the past you are able to re-build your credit score by handling credit more responsibly.
Although you can’t change how you previously handled your credit you are able to take steps to improve your rating. Contact your credit providers if you can no longer pay the amount agreed upon, they will be able to assist you in working out a different payment plan, but by simply ignoring it you add more fuel to the fire and cause more damage to your important good name.