Debt Expert - Tersia van Rooyen

question

Posted by: Rosa van de Merwe | 2013/06/06 16:19

If your credit report shows that a creditor has written off your debt, can they after almost a year start harassing you again?

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?

expert answer

Posted by: Tersia van Rooyen | 2013/06/11 14:27

Hi 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.

It 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.

I would suggest that you contact the lender and work out a plan of action to repay your debt.

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user comments

Posted by: Zakalwe | 2013/06/17 17:55
Re: Posted by: Tersia van Rooyen | 2013/06/11 14:27. I do not think you understand the guy's question. This is what I think is the correct reply to: Posted by: Rosa van de Merwe | 2013/06/06 16:19. If the loan was written off as part of the loan insurance cover, one of the 2 cases may happen. 1) The insurance amount is enought to cover the full loan. then there is no reason for the client't to be hand over. 2) The insurance amount was not enought to cover the loan, then they have a reason to hand the client over for the "shortfall". Question is what does written off mean? Does that mean he has been handed over or simply that the loan is paid up and the method to pay up was the insurance pay-out? Just my 2 cents.
Reply to Zakalwe
Posted by: rhj | 2013/06/15 04:00
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Reply to rhj
Posted by: shams | 2013/06/15 03:59
my best friend's step-aunt makes $75 every hour on the computer. She has been fired from work for 5 months but last month her pay was $12815 just working on the computer for a few hours. Read more here... www.buzz90.c­om
Reply to shams

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