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Question
Posted by: Lee | 2004/10/28

Name on Credit Buruea

I tried to open an account recently and was denied because my name is on the cridit buruea. I now of this account and have not paid this account. I believe that my name will stay on for a period of 3 years. Is this true? If after three years I still not paid will it remain on the credit buruea or is this account passed as a bad debt?

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Our expert says:
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Your name will remain on that list untill you settle any outstanding amounts.

Regards

The information provided does not constitute a diagnosis of your condition. You should consult a medical practitioner or other appropriate health care professional for a physical exmanication, diagnosis and formal advice. Health24 and the expert accept no responsibility or liability for any damage or personal harm you may suffer resulting from making use of this content.

1
Our users say:
Posted by: Tugs | 2004/11/08

The financial expert is lying.
If it is registered as a default it will remain there for 3 years from the day of listing with ITC or Experian. You can choose to pay off the account and if the company refuses to remove you the ITC will note it down that the account is paid up.

If it is registered as a judgement then it will remain there for 5 years from the day of the listing. You can pay this account and ask the company to give you a letter that states that they do not oppose the rescission and get a lawyer to remove the judgement for you. That would cost you between R600 and R800

Reply to Tugs

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