Caribbean Credit Bureau

Credit Scores

 

CCB maintains two Credit Scores for each consumer: an Exposure Summary Score, summarizing Positive Data and a Default Summary Score, summarizing Negative Data. Each Credit Score has two components: (i) a bank sector score, and (ii) a retail sector score.  The overall Credit Score is a combination of these two sector scores.

The Credit Scores are shown on the Credit Report and represent a quick summary of the profile of the consumer.  

The Credit Scores have the following format:

D#P#R# followed by none or some of the lower case letters: 'scwnb', where:

D# indicates the number of unresolved default incidents that are currently not in payment arrangements
(example: D2 means 2 default incidents have been registered on this consumer)

P# indicates the customer is currently complying with # number of payment arrangements 
(example: P0 means that no payment arrangement is currently open on this consumer)

R# indicates the number of defaults that have been resolved by the consumer in the past
(example: R3 means 3 default incidents have been resolved by this consumer in the past)

The lowercase letters indicate the actions that have been taken over time on default incidents other than full payments and payment arrangements. They are shown in chronological order, with the most recent showing last. 

s - settlement between the consumer and lender of a defaulted credit for less than the defaulted amount

c - collection: the defaulted credit was handed over to a formal collection company

w - write-off of a defaulted credit

n - non-compliance with a payment arrangement

b - bounced check was written by the consumer

Examples:

I.  Explanation of the following example Default Summary Score will be as follows: D0P0R0  (with no small case letters)

The consumer has a perfect Default Summary Score: (D0) No open Defaulted Credits, (P0) No Payment arrangements and (R0) No Defaults in the past that were resolved.

II. Explanation for the following example Default Summary Score:  D5P1R2scwnb

The consumer currently has 5 unresolved defaulted credits that are not under a payment arrangement, one payment arrangement open that the consumer is complying with, and the consumer has resolved 2 defaulted credits in the past.  In addition, listed in the order of oldest to most recent, the following actions were registered:  (s) a settlement was agreed upon for less than the defaulted amount, (c) defaulted amount was handed over to collections, (w) a write-off, (n) non-compliance with a payment arrangement, and (b) has written a bounced check.