I want to ask about the credit that I have already paid last year on November so that I can get a loan to fix my family house.
I paid that amount but they didn’t clear my name, so I want to know how can my name be cleared because I want a loan to fix the house.
Thank you for your question.
The credit bureaus will have to remove adverse information and judgement listings from your credit profile – if the amount owed has been settled. You no longer need to have their judgement rescinded to get it removed from your credit profile. Furthermore, the retention period for default listings is 12 months and retention periods concerning administration and sequestration orders are 5 years.
If you have reached your retention period and the information is still listed on your record we would suggest you firstly dispute your credit listing with the company where you pulled your credit report. If you have a complaint about a specific credit provider you can lodge a complaint with the Credit Ombud.
Have a great day.