across the bar

Business development - Clearing your credit record

by default - Posted 31 July 2005

A bad credit profile can be an irritating thorn in the side of your business, especially when it reflects incorrect information. Here is a brief rundown on what you can do to rectify the situation:

1.   Check out your credit profile online at www.transunionitc.co.za. (You will need a credit card as a request costs R25)

2.   If your profile contains incorrect information, lodge a complaint with the credit bureau in question.

(Log the date and time of the call and the details of the person you spoke to as well as the reference number for your complaint).   
3.   Allow the credit bureau up to 30 days to investigate and amend their records.

4.   If they fail to respond within the 30 day period, lodge a complaint with the Credit Information Ombudsman.

(Complaint forms can be downloaded from  www.creditombud.org.za.)  

If you still have no luck, you may need to consider speaking to an attorney to get a court order to amend your record.

Remember that even though you may have paid an outstanding debt in full, the bureaus are still allowed to keep a record of the debt to show your complete credit track record. However, the record must be cleared after 5 years.