All my debts have been paid up - what happens now, asks a Fin24 user. He writes:
What do I do if I have been listed as a bad payer and all my debts have been paid up for more than a year?
Friedl Kreuser of Summit Financial Partners responds:
If your debt is paid up but your credit report still shows that your accounts are in arrears, you can lodge a query with the relevant credit bureaus (the biggest ones are ITC Transunion, Experian & XDS) and ask them to make a note of this information.
You can also contact the relevant credit providers to make sure that they have sent through updated account information to the credit bureaus, as they rely on information provided by your credit providers.
But do bear in mind that although your credit record should show your accounts are currently up to date when you have caught up on your payments, payments that you missed in the past will unfortunately still reflect on your credit record for up to five years.
If you believe the information reflected is inaccurate or unfair, however, you can contact the credit bureaus or your credit providers to query this.
- Fin24
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