Judgements, Administrations and Listings

This is how to remove them.

Have you, like millions of South Africans, been denied loans or clothing accounts, mortgages, or even a job?

Reading is pretty straightforward — what you see is what you get. Most people know what credit they applied for so make sure there aren't any unfamiliar companies on your credit report.

Are you feeling that your life is standing still due to your bad credit rating? In this article I will introduce one of the most effective means to remove all bad elements from your credit report so that you can carry on with your normal life.

Judgements

Judgements on your credit report can be detrimental to your ability to get further credit, so while you may want to try and fight them it's important not to take any legal proceedings lightly.

They should stay on your record for at least five years after which time they will thankfully disappear. Unfortunately though, what the government says doesn't always happen, so many people end up having judgements that stick around after this time period or even longer. Getting them removed is possible but it isn't easy.

Administration orders

You might feel as if your life is completely frozen. You should know that being placed under administration is usually a voluntary process.

If you understand what you're getting yourself into, it's easy to see the main benefit of going through the process: it puts a hard stop on any possible future debt. It also allows you to apply for credit again in 10 years time - after the period of recovery has passed.

As you may or may not know, most South Africans who are under administration have only recently learnt about these disciplinary implications and how it affects the recovery plan of their specific case. One consequence is that creditors usually receive small payments every 3 months over the 10 year recovery period.

Default listings

Several laws have been implemented in order to ensure that all service providers offer quality services and uphold the rights of their respective customers. Unfortunately we are still seeing a lot of service providers who are taking advantage of the lack of information provided by the people they serve. You should know that 99% percent and more of all credit provider services have at least once broken a section of the National Credit Act when placing a default listing on a credit report – because, after all – they don't understand or simply don't care about your needs as consumers.

If you have settled the total outstanding amount of the creditor then you will see “Full paid consequent to listing.” It is thus of importance that you understand that, even if your loans are paid in full, they may still appear on your reports for two years.

We’re here to help you better understand your financial plan.