Posted by: Rosa van de Merwe | 2013/06/06 16:19
African Bank has written off my debt via insurance, I didn't have a job at the time.
Now after almost two years they are harassing me and trying to take money from my bank account. Someone phoned me, and I sent them my credit report showing that it has been written off.
What should I do?
Posted by: Tersia van Rooyen | 2013/06/11 14:27
Rosa, your credit report shows that you have a default listed against
you. This default relates to an enforcement action (write off) and will
remain on your credit report for 2 years so check when the default on your
credit report is due to expire.
is important that you understand that you are still liable for the debt and the
lender can seek civil proceedings (judgment) within three years from the date
when you defaulted on the account, so it is possible that the lender can
request that the court issue a judgment against you.
A judgment, being an
order of the court, stays on your credit report for 5 years.
would suggest that you contact the lender and work out a plan of action to
repay your debt.
Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers, and disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site.