I refer to the letter Ctos must be creative too in removing names and feel that the company is being unfairly demonised and being made a scapegoat for many people's frustration. I myself was (and in many ways still am) a victim but as I cleared my hefty debts, I found that some banks ignored my Ctos listing and gave me loans.

When I applied for a housing loan recently, I was flatly rejected within a few days and the officer quoted the Ctos listing as the reason. At the same time, another bank approved my loan mentioning the Ctos listing but overriding it. And I am talking like RM450,000 here. Same with credit card applications.

I have a car loan from Public Bank who initially called me and asked about my name which appeared on Ctos' list. I do not think I am an exception here. Banks are the ultimate arbitrators in giving out loans and credit cards but some take the lazy and dubious way out to reject solvent customers who have come clean.

Now there are calls for Bank Negara to play this role of blacklisting those who are not solvent. I say this is a rotten idea. We will all be worse off as banks would be very reluctant to approve loans to those on Bank Negara list. And I am sure they will have similar updating problems.

I know from my experience as an ex-public sector employee that they are simply would not be efficient in removing names of debtors who have come clean. And being a government-backed institution, it may be prone to insider manipulation and possible bribery.

The rational way out is to improve Ctos make it more pro-active in deleting the names of those who are debt-free. The banks should also be less reliant on Ctos and have additional ways to determine a customer's credibility.

I believe the vast majority of defaulters languishing on the Ctos list are indeed debtors attempting to fool and perhaps defraud and hoodwink banks out of paying their unpaid sums. They are just venting their frustration at their inability to get fresh loans. But then again, even one genuine aggrieved party is simply one too many and is unacceptable.