Just want to ask regarding being registered with the credit bureau. Can a company register you without formally communicating as much to you? Am I correct in assuming that the service provider has to give you a formal letter indicating they will register you and giving you a notice period to sort out amount outstanding? Failing which then they can register you?
Thanks for the question.
Once you have applied for credit, you are automatically registered at the credit bureaus. Creditors’ systems are linked with the credit bureaus so when you apply for credit, get declined or approved for credit, make your repayment or default on your repayments, it will all be noted in your credit report. This way creditors can view your history with credit.
You can check your credit record with any credit bureau. TransUnion is the best, so we would suggest pulling your record there. By law, you are allowed to pull your credit record for free once a year. Here is a link to TransUnion’s site: https://mytransunion.co.za/
Also keep in mind that there are 4 major credit bureaus. TransUnion, Experian, XDS and Compuscan. It can be that some of these other credit bureaus have not yet updated your profile, so it would be advisable to check your score with all of them.
Have a great day.