How do I clear my name from the credit bureau in South Africa? (2024)

FAQs

How do I clear my name from the credit bureau in South Africa? ›

The simplest way to clear your name from the credit bureau is to pay off the debt. According to TransUnion, one of South Africa' biggest credit bureaus, this will usually result in your name being removed from the blacklist within 7 – 20 days.

The most straightforward method is to settle the outstanding debt. TransUnion, one of South Africa's prominent credit bureaus, suggests that paying off the debt usually results in your name being removed from the blacklist within 7 to 20 days.

Most of the credit grantors in South Africa are also members of the CPA (Credit Providers Association). As members they have agreed to the time periods for which data should be displayed on a consumer's credit report. The display period for a default is 1 or 2 years; for a judgment, 5 years.

If the consumer wishes to cancel the debt review, the debt counsellor cannot remove the flag unless all debts are paid. However, the consumer can approach the Magistrate's Court to have the flag removed.

How Long Does Blacklisting Last in South Africa? The duration of a blacklisting entry on your credit report depends on the type of listing: Judgments: Can remain on your credit profile for up to five years unless a court order rescinds them earlier.

A judgment is public information and remains on your credit report for 5 years or until the judgment is rescinded by a court or paid in full. Once paid Consumers no longer have to get the judgment rescinded in court.

If you've missed a payment, a creditor can issue you with a letter of demand, also known as a Section 129 notice, 20 days after defaulting on your account. Following this, a creditor can begin to take legal action against you.

What is the 609 loophole? ›

2) What is the 609 loophole? The “609 loophole” is a misconception. Section 609 of the Fair Credit Reporting Act (FCRA) allows consumers to request their credit file information. It does not guarantee the removal of negative items but requires credit bureaus to verify the accuracy of disputed information.

In general, most debt will fall off of your credit report after seven years, but some types of debt can stay for up to 10 years or even indefinitely. Certain types of debt or derogatory marks, such as tax liens and paid medical debt collections, will not typically show up on your credit report.

Yes, you can apply for a loan after a debt review. If you've been diligently sticking to your debt restructured payment plan, you may be really eager to take out a loan for a home or a car. The good news is you will be able to apply for credit after debt review.

While you can't remove accurate previous names, or name variations, from your credit reports, you have the right to dispute inaccurate information—misspellings, for example, or incorrect names that appear in your credit file as a result of fraud.

You will be on the blacklist for seven years. However, you can get off the blacklist earlier by finding out from the bureau who submitted your name for blacklisting, clear your loans and get a clearance letter from the lender and emailing the letter to the CRB to have it resolved.

If your credit report contains outdated or inaccurate personal information like an old address, you can get it removed by filing a dispute with each of the three major credit bureaus – Experian, Equifax, and TransUnion.

While you can't remove accurate previous names, or name variations, from your credit reports, you have the right to dispute inaccurate information—misspellings, for example, or incorrect names that appear in your credit file as a result of fraud.