Debt Expert - Tersia van Rooyen

question

Posted by: Elmarie | 2013/05/21 21:17

I paid off all debt and my name still not cleared.

Good day Tersia

I lost my job and was in debt, and went to credit matters for help. I saw it was not working, sold my flat and paid off all debts in 2010. My name was never cleared, and there was no judgment.

I moved and just paid my account two weeks late. Now I cannot rent or find a proper financial job. This has now been on my record for two years and means I am not creditworthy.

It is so unfair - I have no debt and this is blocking me all over again. Please tell me how can I get this rectified.

expert answer

Posted by: Tersia van Rooyen | 2013/05/27 16:09

Hi Elmarie, what information is reflected on your credit report? 

If there is no judgment against you it is positive as a judgment stays on your credit report for five years, unless rescinded.

If it is a default, it will display on your credit record for either one or two years, depending on the type of default.

If the default relates to an enforcement action such as handed over to collection or recovery, legal action or write-off, the default will remain on your credit report for two years. If the default relates to a subjective classification of your behaviour such as delinquent, slow paying, absconded or not contactable, the default will remain on your credit report for one year.

If it is a default, you can pay the amount that you owe on the account and request that the lender update the default to show that it has been paid in full. Remember that the default will be removed from your credit report after the one/two years, depending on the type of default explained above.

If you are in financial trouble, knowing what you owe and how to prioritise payment of your accounts can help immensely. Knowledge and understanding of the information in your credit report empowers you, so be sure you know what your credit report looks like.

Your credit report will also show, over a 24-month period, all the accounts that you pay in full and on time, as well as any late or skipped payments.

Ensure you repay the correct amount owing on time and in full every month – don’t skip a month with the intention of making up the shortfall next month.

Over time, if you manage your payments it will start to show when you look at your credit report and your payment behaviour history.

Contact TransUnion to get a copy of your credit report to know exactly what action has been taken thus far by your lenders. Your TransUnion credit report is free to you every 12 months on www.mytransunion.co.za or call 0861 482 482.


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user comments

Posted by: Magrietha | 2013/05/30 10:04
I agree with Jason. It is too easy for a company to list you as a defaulter. After trying for 5 month's to sort out our account with CellC they listed my husband for R10,50. They do no send his statements, we have to ask for it every month. Payment for the R10.50 was never requested, they just list you after 3 months. (We were never informed in writing). The amount was paid to them. All they have to say is "sorry" but your credit record is tarnished. With regard to the talk about credit amensty being given, I am in favour of this as I believe a lot of people are being listed unnecessary.
Reply to Magrietha
Posted by: Thami | 2013/05/29 09:23
Elmarie, I suggest you run free credit reports with all the bureaux (not just Transunion). identify the details you are not happy with and dispute them with the respective bureaux. all bureaux have 21 days to get the credit provider concerned to either prove that the record are legitimate or remove the details completely or correct the wrong. if not conclusive then they must remove. 21 days! if needing more info on this hit me up on twitter. my twitter handle is @Thami_Cele or email me at betterfresh@gmail.com. if all else fails speak to the Credit Ombudsman 0861 662 837 or www.creditombud.org.za Hope this helps and all the best.
Reply to Thami
Posted by: Anonymous | 2013/05/28 20:51
Pay your accounts f@ckers
Reply to Anonymous
Posted by: gavin Forman | 2013/05/28 17:03
Elmarie, thats cause there is no system. i was placed on the credit Beaurue by RCS Loans, although i was on debt coucelling, they still listed me as a slow payer, or that i defaulted, they were incompetant in doing their work properly, they ignored all emails etc. then they handed me over in 2011, suddenly everything stopped. i refuse to pay the full ouitstanding balance according to them, and i negotiated a settlement. i have told them that i will report them to the Financial Servoices Board if i have a bad credit because of their oincompetance.
Reply to gavin Forman
Posted by: Gavin Forman | 2013/05/28 17:00
Tersia, so i dissapear off the map and dont pay my debt, i get a 1 year bad credit rating. i default, but still pay accounts, after negotiating with the creditors and get a 2 year bad record. thats confusing the i will rther dissapear. there is something seriously wrong with the system.
Reply to Gavin Forman
Posted by: Jason | 2013/05/28 16:16
The whole credit bereau thing is stupid as some companies are allowed to list you so easliy but it costs a fortune to get your name off. The banks and cellphone networks probably all own these bereau's. My old landlord owes me my deposit but wont refund it coz he says that things are outstanding. Eg the counterfeited elctricity account which the body corporate charged way over the officail maximum. They all a bunch of wankers. Legalwise, Telkom and Capitec, the best companies if ur listed. Advice for the poor, good rates and easy loans, nevermind what ur stupid credit rating.
Reply to Jason
Posted by: Jabu | 2013/05/28 14:11
What a crap answer, these so-called experts, Yo!!
Reply to Jabu
Posted by: Ishmael | 2013/05/28 14:49
I guess you could have helped i suppose than critizise without helping
Posted by: Tandisizwe | 2013/05/28 14:05
I really don't understand your answer Tersia and it don't think Elmarie will finfd it usefull.
Reply to Tandisizwe
Posted by: Gatiep | 2013/05/28 13:15
I don't think this answers the question.
Reply to Gatiep

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