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Lindokuhle asked 3 years ago

My question is that I want to know how to go about clearing my name because I was handed over to credit bureau within less than 6 months, so I took a loan with Eduloan and settled my debt and yesterday when I was trying to opt for a loan they said I’m still blacklisted, and I want to know how did it happen that I was handed over to credit bureau within less than 6 months?

1 Answers
Matthys Potgieter Staff answered 3 years ago

Hi there,

Thank you for your question.

The latest amendments to the National Credit Act include changes to the retention periods of credit information. The retention period for default listings has now been reduced to 12 months. In the same way, retention periods concerning administration and sequestration orders have been reduced to 5 years.

If you have reached your retention period and the information is still listed I would suggest you firstly dispute your credit listing with TransUnion. Here is a link to TransUnion’s page explaining the dispute process. If you have a complaint about a specific credit provider you can lodge a complaint with the Credit Ombud. Here is a link to their page explaining the complaint procedure.

Hope this information was helpful.