Thread: Paying back money to a "credit company"

Hi

I am hoping someone here knows a thing or 2 about how "credit companies" work in Bali
If you cannot finish paying the credit back for a car and the credit company takes the car off you
is your name blacklisted so you can never borrow money again?

Thanks for your help

Well you would expect them to as best their technology can manage. So a national database probably does not exist, or if it does is probably incomplete and inaccurate. But more locally, I am sure they can spread the word.

even if a national database would exist, the banks would ignore the information cause they earn too much money with people who can't pay back their loans.
You paid 30 - 40 % of a new car already and can't pay the rest? The bank take your car and you lose all the money you spent so far...
now the bank owns an almost new car for a really good price. what amazes me is that many Indonesians know the story and how it gonna end from the very beginning,
they buy a Toyota Fortuner and they can't fully pay it, but maybe impress the neighbors and family for a year or two before the car "disappears"