I opened an account with Edgars as a student in 2014 but then my mother lost her job the same year and I could not pay off the debt.
I just checked my credit report online and it states that I was put on default on the 6th of January 2017 and my debt was written off on the 17th of February 2017.
I’m still a student I just want to know how long will the information reflect of my credit and will I be employable after graduation?
Thank you for your question.
The retention period (how long it is listed on your credit record) for default listings is 12 months. And retention periods concerning administration and sequestration orders is 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 credit bureau where you pulled your report. If you have a complaint about a specific credit provider you can lodge a complaint with the Credit Ombud.
Not necessarily. Some employers (especially in the banking sector) will take a look at your credit record, while other employers don’t. It all depends on the employer’s requirements for their candidates.
Hope this info helps.