The credit bureaus have been inundated with telephone calls over the past weeks. This has been a phenomenon way bigger than when the free credit reports where launched.
Now what I find disturbing, and no I’m not necessarily better or mightier than thee, is that the regulations, section 73 of the National Credit Act have been out for sometime now (I can post the date later). These basically govern how this much sort after amnesty is to be applied i.e. who qualifies, etc, etc…
Click here to continue reading ‘Credit Amnesty last day(s) rush, why do we leave things to the last minute?’
People seem to be under the notion that “if I skip a payment I’m automatically in the dwang…”
No, you should not get blacklisted for paying late, depending on how late your payments came in and depending on your definition of blacklisting that is.
When you pay on time, late or skip a payment, your credit grantor will report this to a credit bureau.
Click here to continue reading ‘Can I get blacklisted for paying late?’
The long negotiated credit amnesty is coming to an end! You may have seen the campaigns by the National Credit Regulator and the Credit Information Ombud on TV or heard on radio stations. This is a call to South African consumers who may have adverse information, to take advantage of this once off opportunity to clean your slate.
To read more about the credit information amnesty click here and find out if you qualify.
P.S. Be patient when contacting the credit bureaus as they are currently being flooded with calls as consumers race against time!
First of all, blacklist is old school; the preferred term these days is adverse information. I am blacklisted = I have adverse information on my credit report. This is important and perhaps we can dedicate an article to the blacklisting terminology another day.
Back to the subject at hand… The window is closing in soon, take advantage of the “credit bureau amnesty” that has been put together specially for you. You have until September 2007 to have certain information on your credit report removed in a less costly fashion. This does not necessarily mean you do not have to pay your debts! Yes I love freebies too…
Click here to continue reading ‘Blacklisted? 16 days to go to recover your bad credit quickly’
Ever received an offer via mail when you’ve never asked for it? Be it a retails store card or a credit card offer?
Ever been offered a credit card by a teller at 1 of the chain stores that also have credit cards? This would happen if you use a credit card to pay for items.
The rationale behind was simple. If you have a card from my competitor you probably are good risk, so I might as well fight for market share errm, wallet share.
In some cases it would seem no proper affordability study would be done since you just received the offer by post… Ditto 4 retail store accounts
Enter NCA…
Click here to continue reading ‘Pre approved offers - fighting for the lion share of your wallet.’
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