Insights

1 Account information

Both positive and negative repayment information is stored on the credit bureau database. If your instalments are consistently and fully repaid every month, credit providers will see that you are a reliable payer.

2 Rehabilitation order

Once a period of four years has lapsed after a sequestration order has been handed down, it is possible to apply for a rehabilitation. If granted in court all debt incurred up to and until the date of sequestration is discharged and you no longer have to pay it.

3 Sequestration

A sequestration order is an order handed down by a court which declares you bankrupt.

4Dispute enquiries

If you claim that there is a mistake on your credit report but the credit bureau determines that the information is accurate, your complaint will be rejected.

5 Court judgment

Where a court issues an instruction for you to pay an outstanding amount

6 Default information: Behavioural

This is the recording of information detailed as ‘slow payer’, ‘absconded’, ‘account misconduct’.

7 Default information: Enforcement action

This is the recording of information detailed as ‘write-off’, ‘repossession’, ‘legal’.