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Repairing Credit Record

Questions & AnswersCategory: Debt ReviewRepairing Credit Record
Freedom asked 1 year ago

Good morning,

I need help. I have 2 clothing accounts for Rage and Sportscene, so I had some problems and I didn’t manage to pay the Rage account for 2 years. Then last year December 2016 I paid off the credit I was owing and even now on my credit rating statement still says I am owing and I have a low credit score.

So I need help in clearing my name and have a good credit rating. What steps should I take?

1 Answers
Carien Kruger Staff answered 1 year ago

Hi,

Thank you for getting in touch.

According to the National Credit Act, credit bureaus have to remove adverse information and judgement listings from a consumer’s credit profile, if the amount owed has been settled. Furthermore, the retention period for default listings on your credit report is 12 months. In the same way, retention periods concerning administration and sequestration orders are 5 years.

If you have reached your retention period and the information is still listed 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.

Hope this information helps.