1.Is it possible for debtsafe to access my full credit history, obviously with permission given by me, work through it with me, with the view of clearing any negative report/record that could be on my name?
2. what does it mean when an old debt has been prescribed in terms of prescription act 68 of 1969, and the bank says your account has been closed, does that mean my name should also be cleared from credit bureaux, if not how do I get my name cleared, and to whom do I pay the outstanding balance if the bank says I do not have any account with them?
3. how do get about getting a clearance certificate if I have paid off my debt and the bank acknowledges it, but my name remains listed with exactly with the same debt I have paid off? if I enquire at the bank this what I got in writing; “We are pleased to let you know that you have paid off your….bank loan account no…….. ,provided that all your payments have been successful.” goes on to say ” you may still have to pay legal costs of attorneys or debt collectors” my concern with this is that I don’t remember dealing with any debt collectors as I made the arrangement directly with the bank, and last payment was made in cash directly in the same bank.
Thank you for getting in touch.
We would advise that you pull your credit record from any of the credit bureaus, like Transunion – you are by law allowed to pull your credit record for free once a year. Then you can check if you have any default listings that you need to get up to date, and then keep up to date in order to get it cleared from your name.
We can only help you clear your credit record through Debt Review – if that is something you are interested in you are welcome to fill in your details on the contact form and we’ll be in touch.
Debt has only prescribed if there has been no attempt by the credit provider to collect it or if no summons has been issued for the debt during the last 3 years. Also, if there has been no acknowledgment of debt during the last 3 years. If you have made any form of payment in the last 3 years it constitutes an acknowledgment of debt.
Prescription of debt is a defence; thus, when the credit provider attempts to collect you can claim prescription as a defence. If the debt does not affect your credit record at this stage you can simply ignore it and if anything happens in the future claim prescription as defence. If it is causing issues for you, I would advise that you get an attorney to write a letter on your behalf to the respective credit providers notifying them of the problems that are being caused by the debt and then claiming that it has prescribed. If the debt has indeed prescribed already, the new Credit Amendment Act prohibits the prescription to be interrupted after 3 years. If it has not prescribed yet, then you need to be careful not to acknowledge it.
You should ask your Debt Counselor to issue your Clearance Certificate. If you have trouble with your Debt Counselor you can ask any registered Debt Counselor to issue your Clearance Certificate – they will most likely as a small admin fee for the service.
If you find yourself having an issue with a specific creditor you can log a dispute with the Credit Ombud, they will then investigate the matter for you. If there is a specific listing on your credit record you are concerned about you can log a dispute with that credit bureau.