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?’
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’
There has been a lot of hype on various media publications about the National Credit Act and more so about amnesty for those consumers whose credit reports reflect adverse information a.k.a. “blacklisted individuals”. The SACP has very much been at the forefront of this campaign for a clean slate for South African consumers.
The result? I hear you ask.
You will be pleased to know that the National Credit Regulator has listenned and we now have the Regulations on Consumer Credit Information (Section 73 Regulations) published.
The regulations state that the following credit information be removed from consumer credit records by no later than 1 June 2007:
- Adverse consumer credit information in respect of a debt of less than R500*;
Click here to continue reading ‘Credit Amnesty as per National Credit Act’
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