HERE'S WHAT TO DO IF negative listings APPEAR ON YOUR

CREDIT REPORT

A GOOD INITIAL INDICATOR WOULD BE THE CREDIT SCORE ITSELF. THE HIGHER THE CREDIT SCORE, THE LOWER YOUR RISK TO CREDIT PROVIDERS. HOWEVER, THERE ARE SOME ACTIONS THAT CAN NEGATIVELY AFFECT YOUR CREDIT SCORE. THINGS SUCH AS MISSING DEBT REPAYMENTS OR MAKING FREQUENT CREDIT INQUIRIES ARE CONSIDERED NEGATIVE CREDIT BEHAVIORS AND WILL BE RECORDED IN YOUR CREDIT REPORT. LET'S LOOK AT WHAT THEY ALL MEAN AND WHAT TO DO IF YOU HAVE THEM ON YOUR REPORT.

How can we Clear Names of consumers who have been blacklisted

Blacklisted? - What it means
Being blacklisted means that a negative information has been placed under your name on your credit record or credit profile. This can be on one of the major South African Credit Bureaus - Transunion Credit Bureau or Experian Credit Bureau or Compuscan Credit Bureau or Xds Credit Bureau.

Being blacklisted is not a good thing as this will prevent you from obtaining any financial services from financial institutions in South Africa.

Blacklisting information found on the credit bureau will be the following:

* Default Listings

* Trace Alerts

* Judgments

* Administration

* Debt Review

* Sequestration

Please fill in a form at the bottom
In order to check if you are blacklisted or not, you must access/obtain your credit records from both the Major Credit Bureaus.

Definitions of different types of negative 

Listings

    1. Default
What is a default listing?

A default can stay on your credit report for a very long time and sometimes even when even after the account is back up to date and kept current the arrears will remain. Usually, if the default remains unpaid the account goes further into arrears and the credit provider is likely to begin legal action. Legal action means that the credit provider will initiate their legal collection process. Ultimately, the case could go to court and end up as a judgment on the credit report.

A default occurs when a person fails to adhere to their monthly debt repayments. The credit provider will report the default activity on your credit bureau report. We say that the account is ‘in arrears’.

How long does a default stay on your credit report?

What is a judgment listing?

A judgment occurs when a credit provider has successfully taken legal action on an account. This is known as a bad-debt judgment. If there are several months of missed payments, the credit provider can take the matter to court, demanding that payment be made. If the court rules in favor of the credit provider, the judgment will get added to your credit report, along with details such as the case number.

How long does a judgment stay on your credit report?

A judgment usually stays on your credit report for a minimum period of 5 years but if speak to us we can assist in shortening the period. Some judgment remain on your credit profile even after payment has been made in full we can also help in this regard.


 

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