I refer the above I copied from your webiste. I have a scenario where I have a judgement for the amount of:
Date Plaintiff Amount Reason Court Case Number2004/02/18 Adt Security R5010 Bellvill A G 42510/2003

I have no other negative information on my credit report.
I am now in a situation where the attorneys are telling me I must pay R9218.00 dd.28 May 2007 so this figure will be slightly more as of now.
Herewith the breakdown of the figures:
Judgement 5010
Summons 316
Rev Stamp 20
Attorney Fee 42
Interest 123
Judgement 266
Writ 52
Sheriff Fee 42
Interest 131
Attorney Fee 46
Interest 2539
Interest 61

Collection Commision 500
Vat 70

Settlement Figure 9218

What must be paid before 1 September 2007 ? The judgment amount or all these other costs as well ?
The interest I am being charges is almost R3000.

I look forward to your analysis of this & your feedback.

Regards,

S Davids

Apologies for getting back to you now only…

I trust you read our disclaimer.

One a judgment has been loaded; there can be no additional charges to that debt.

You only have to pay the amount reflected on your credit report, which should be the amount on the court record i.e. judgment.

If the quoted R9 218 is the amount reflected including the interest then you have to pay the entire amount.

Once you have done so, you need to send the credit bureau(s) the proof of payment BEFORE 1 September 2007 and the judgment should be duly removed.

We hope this answers your question. Please reply with your progress so we can explore other avenues if this does not help.

Regards,
liberatingconcepts.co.za

Regards

In your situation, R5 010 seems to be the amount you should pay. Read below…
The understanding is that if a credit grantor “sues” you, they would go to court and present what the consumer owes them plus any additional charges i.e. interest, collection fees, attorney fees, etc… The sum of these charges (as the judge finds reasonable) and outstanding debt will be judgment amount, which is what you the consumer has to pay-up.

You can check this with the National Credit Regulator! Please let us know if any info here is different to what the regulator says.
We have obtained more clarification on this. The Debt Collector’s Act allows for interest and further collection charges to be charged even after the judgment has been passed. So you would have to pay up the full amount.
BR

Thank you for your query.
Please confirm if your default is dated 28 September 1997. In that case it should be culled, expunged since it is older than the 3years even before the NCA.

Suggestion:
log on to www.mycredit.co.za and check you credit report. If the default still shows, then follow the dispute process (click here to view the article on disputing credit information)
starting with contacting the TransUnion Credit Bureau contact centre on 0861482482.

Please do return to let us know how this was sorted or not sorted…

Regards,
liberatingconcepts.co.za

I need urgent assistance as I wish to settle my debt and clear my name prior to the 1 September 2007 cutoff. I have the following listing:
26 Jan 2005 PEOPLES BANK K/PARK Magistrate 23 R26,908 MONEY 53670/2004

The debt collectors Bankcol are claimimg R35000 and apparently this is due to interst charges allotted by the bank. Am I in my legal rightt osettle on R26908.

Thanks
Vanessa

Something that I have been made aware of is the fact that interest can still be charged to the debt even after the judgment has been passed.
The interest will be as per your contract with People’s Bank. The debt collector will also add charges for the cost to collect, i.e. phone costs, postage, etc…

No you shouldn’t get blacklisted for late payments, depending on your definition of blacklisting that is and how late your payment is.

In fact let me post this as an article, please read here. Can I get blacklisted for paying late?

I am sorry to be the bearer of bad news but you have to repay this loan. Yours is an unfortunate and quite common, but the only thing you can do is put a repayment plan together.

As for the R12000.00, it depends what goes into that figure but in a nutshell for as long as you still owe African Bank money, they are allowed to add any interest as per your credit agreement or 15.5% p/a(Mora rates as I have recently learned). On top of that, collection fees may be charged to your account and these would be telephone calls, letters, etc to you by the debt collectors.

The big credit grantors are part of an association called the Credit Provider’s Association. This is where the “industry” tries to normalize how they do things and speak under one voice to the National Credit Regulator for example.

Now, one of the decisions by the CPA around defaults is that members do not remove defaults even if paid off but simply update to say “paid in full” or something to the effect. Now that seems to be the case with Edgars.

Is this legal, well it would seem there is a loophole that allows this to happen.

My advice is to ensure that the records are updated to say “paid in full”. Then lodge a complaint with the regulator and / or credit information ombuds regarding this.

Click here to find out how to dispute your credit information.

BR!

It works as stated in the article. Perhaps you can ask a specific question?
By the way the amnesty has come and gone (1 September 2007)!

Regards

Is it possible to get a discount if I want to pay these people the full amount by January 2008.

It is certainly possible to negotiate paying less to settle your debt. I would suggest asking for the credit or debt collections manager as they naturally would have some discretion.

If you have the cash to settle in full, do give your creditors a call. Once you have paid the debt ask for proof of payment and contact the credit bureaus. You should also ask them to send a directive to the credit bureaus to remove the defaults.

PS. Don’t forget to click here to read this post on disputing information on your credit report.
Regards,
www.liberatingconcepts.co.za

I would speak to the branch or credit manager at African Bank to work out some terms. They might agree depending on how serious the situation is and if it is permanent or a temporary glitch.

Failing which I would approach a debt counsellor to restructure your debt. This would mean you cannot apply for further credit until you get out of debt counselling!

More info on the NCR website.

For a debt counsellor try Gübra Consumer Consultancy on (012) 661 4530. Kindly quote you were referred by liberatingcomcepts.co.za

Could this not have been removed as per the credit amnesty?

my credit report shows that i have a judgement of R8000 on my credit card. As far as i now, i paid up the account last year August. When i contacted the bank, they say i owe the R219 for legals fees which i just paid them now. Is it posible to remove judgement against my name & also to open new accounts?

Do contact one of the credit bureaux to check this information offcourse
goodluck!

You can always lodge a dispute with the credit bureaux…