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How does the French bank know if I owe $100k to some other bank and am now 2 months in arrears? Edit: also, comparing nominal interest rates is meaningless, yo
by aianus 9y ago
How does the French bank know if I owe $100k to some other bank and am now 2 months in arrears?
Edit: also, comparing nominal interest rates is meaningless, you have to compare the spread vs. the risk-free rate for the given currency.
- cesarb 9y ago> am now 2 months in arrears? I don't know how it works in France, but other countries have a "bad payer" database. You get added to it when you're behind with your payments, and get removed from it when you're no longer behind. All lenders check that database.
- moonka 9y agoIsn't that pretty close to how credit bureaus work?