Debt collection law

9. How long will a Debtor’s default, judgment reflect on his/her credit report with the ITC or any other credit bureau?

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  The Department of Trade and Industry published the once-off Removal of Adverse Consumer Information and Information Relating to Paid Up Judgments Regulations, 2014 ('the credit information amnesty') which came into effect the 1st of April 2014. All Credit Bureaus were required to remove the following information within 2 (two) months of the effective date:
  

a) All adverse credit information of consumer behaviour such as “delinquent”, “default,” and “slowing paying information.”;

b) All adverse credit information of enforcement action taken by the credit provider such as “handed over to collections” or “write-off.”;

c) All adverse credit information contained within the payment profile of a consumer.;

d) All paid up judgments where the consumer has settled the capital amount. This does not mean that the debtor is no longer liable for the debt outstanding as at 1 April 2014 in terms of (a) to (c) hereunder.

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  From the 1st of June 2014 credit bureaus must within 7 (seven) days after receiving proof of payment, remove paid up judgments from debtor’s credit records, upon verification by the creditor that the account is in fact paid in full. The credit bureau which initiates the removal of a paid up judgments will notify all other NCR registered credit bureaus who are then required to remove the same information within 3 (three days of notification)
  
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  All new Adverse status codes which have occurred after 1 April 2014 may be recorded with the credit bureaus. Such information will reflect on the debtor’s credit profile for a maximum period displayed in the Regulations of the NCA.