What you need to know about Credit Information Amnesty

A new ‘credit information amnesty’ is set kick in on the 1st of April 2014. This has been touted as a brave development heralding a new credit space. What does it mean to you, the consumer?

Starting on a clean slate

The amnesty means that you are starting on a clean slate with regards to information held by credit bureaus under your name. Black listing relating to paid up debt will be cleaned.

The status of your existing debt

You are still required to pay all your active debt. This is not a ‘credit amnesty’. It is a ‘credit information amnesty’.

What is a credit information amnesty?

The character of this amnesty is accurately captured in the official name of the relevant regulations passed last month. They are called: “The removal of adverse consumer credit information and information relating to paid up judgment regulations.”

Read the latter title of the regulations again and you will get the idea.

The Amnesty

The amnesty relates to information held under your name by credit bureaus. When you take debt, the debt provider forwards your credit repayment behaviour to the credit bureaus.

This information is kept by the bureaus to enable credit providers to assess the risk they are taking in you when considering your future credit application.

According to the National Credit Regulator, there are 13 registered credit bureaus in South Africa. All are bound by the new regulations.

From the 1st of April 2014, all credit bureaus will be required to remove all historical adverse information about consumers. This must happen within two months; April to May.

Explaining this further the minister of trade industry Rob Davies said: “Therefore effective from 1 April 2014 credit bureaus are prohibited from displaying or providing information that ought to be removed in terms of this Notice to anyone.”

The credit bureaus must within thirty (30) days after May 2014 submit a report by an independent auditor confirming that all such information has been removed.”

“This Notice is applicable automatically to all affected consumers, unlike the 2007 amnesty whereby a consumer was required to follow a particular process to benefit from the amnesty. This means a consumer who may not even be aware of this Notice will nevertheless benefit.”

This was our first installment on the Credit Information Amnesty. See our second installment which explains the difference between adverse consumer credit information and information relating to paid up judgment.

news@ujuh.co.za

  • This is a very good initiative by our government especially for people who are willing to pay their debt but are unable due to the conditions that will be laid down by the credit providers.

  • SAMUEL LEDINGWANE

    If im under administration do i also qvalified

    1. Beverley patience

      does one who is under administration or debt review qualify for amnesty

    2. Did you qualify for credit amnesty if you are under administration. I urgently want to know if a person can qualify for not for credit amnesty if you are under administration. Thank you.

    3. do one qualify for credit amnesty if you are under administration. I urgently want to know if a person can qualify or not for credit amnesty if you are under administration. Thank you.

  • SAMUEL LEDINGWANE

    do i qvalified if im under administration

  • Am extremly excited,goverment deserves hundred praises for this effort. Level of employment will improve as most of us are qualified sitting jobless due to adverse payment profiles. Really appreciate the initiative, will surely make a difference in my life. Am one in thousands who will benefit. Thank you

  • I am greatful for this atleast now we will be able to start fresh

  • Thabang Thuswa (Sasolburg)

    This is the greatest News ever. it’s like an early Christmas. I wish this information could reach to as many as possible people especially those are clueless about what is about to happen in our country as we all know that “vultures are out there to rip off people claiming to help people with what the government is offering fro FREE. Please make a possible way for people to get this information in an understandable way so that no one will find him/herself being robbed off their money.
    Again Thank you very much for this wonderful opportunity to start afresh.

  • I’m not blacklisted but my Edgars Account was handed over to R and T……..do I benefit from this?

  • I must say government has done well ,especially for those people who are not able to acquire employment due to their negative adverse on their side. well done this will help many people.

  • WOW…AT LEAST OUR GOVERNMENT DID SOMETHING THAT WE ARE PROUD OF

  • I’d like to thank the government of the people for relieving the people from this heavy predicament

  • how are people under debt counciling affected? do they get a clean slate as well?

  • mmapula sejaphala-motlhamme

    Hands up to our government for removal of adverse. I’m 1 in millions who will benefit from this information amnesty. I hope i will be able to afford a place to stay and my kids will be excited and not be homeless anymore.

  • how does one apply ?

  • If all my creditors have been payed and I am blacklisted will my name be automatically removed .

    1. I also have the same problem as Elvin. How do i get my name removed,after paying all my creditors?

    2. I also have the same problem as Elvin. How do i get my name removed,after paying all my creditors?

  • I’m very grateful for wat our goverment has done bcos last month I coild not get a job due to my bad credit record

  • I’m very much excited about this.getting a second chance in life is such an honor.
    The default was removed under my name on the 01 April 2014 but the information is still existing on my credit report.
    Should i wait for the 31 May 2014 for the rest of the information to be removed or the information was supposed to be removed same day is my default?

    Regards
    Christine

  • wow.i have been unemployed since 2009,and i as no able to pay my account.dos this mean now i can be able to find employment?please reply

  • i am blacklisted by vodacom and mtn do are qualify

  • This is an excellent initiative, thumbs up to this. Does anyone know how they will be clearing, will it be random or alphebetical order, I notice some people are cleared and some arent.,

  • I contacted Trans Union regarding my credit report, although my accounts are paid up the payment history still has a bad reflection, it show 150 + days not paid. This was because I was on debt review.
    They ibformed me that it will take 24 months for it to clear and that they cannot remove credit history. They say that people are mis informed .

  • Can someone please explain how this is done? Where and how do I get this done. There seems to be no information online as to how to do this. Please help!!

  • How do I apply for credit amnesty? I’m under debt review

  • How do I apply for credit amnesty?

  • How do one apply for this credit Amnesty

  • Paulos Mahlangu

    how do you know if your name is removed to credit bureaus.

  • Can my name cleared please. I battle to get finance on everything

  • How do I know if all historical adverse information is removed
    From my report

  • What will happen because I m still paying gurnishee. They will cancel that gurnish or what

  • We couldn’t pay our previous debts due to unemployment that was caused by bad info on our names by bureaus. Atleast we will be employed and be able to pay our debts then start afresh. Thumbs up Government. U should have cleared debts themselves lol

  • I want to clear my name at the ITC board .How do i go about clearing my name because Im looking for a job and it seems like my bad credit record is disallowing prospective employers to give me an opportunity to get the job I always wanted because my name is under the ITC record due to my unpaid credits.Please advice

  • Many of the questions posed here should be answered by the following pieces. The most important thing to know is that the amnesty applies to paid up debt and the clearing should be automatic on paid up debt. You need to get in touch with one of the registered credit bureaus to check if the clearing has indeed occurred. The credit bureaus and their contacts are listed in the first of the three links below. We hope this helps.
    http://www.ujuh.co.za/amnesty-how-do-i-check-my-credit-profile/
    http://www.ujuh.co.za/my-first-attempt-to-get-a-credit-report/
    http://www.ujuh.co.za/clearing-confusion-around-credit-information-amnest/

  • Rajashree Chinsamy .

    I would like to apply for Credit amnesty who do i contact for assistance thanks

  • veronica nkadimeng

    how do I know that my name is removed from ncr because im under administrator I want to check if my name is removed

  • I owe the bank about R40000 which i was mislead when buying a car and end up taking the car back.
    Now i have done the arrangement with the bank to pay R100 per months. my question is as im paying per the arrangement. isnt posseble that im still blacklisted.

  • if you have paid all your debts and the creditor is not forwarding the information with itc for update,what must i do?

  • I’m blacklisted please help
    I don’t know where to start I need to clear my name

  • i’m blacklisted
    I don’t even know where to start I need to clear my name
    please help!!!!

  • Id like to thank goverment for helping us get a second chance in life,this will change peoples Lives.
    How will I knw when my record is clean?

  • Does this happen to all ppl with a bad credit profile ?

  • Hi,

    I have been struggling to find a proper job for about 2 years now, I have alot of bedt on my name form my previous marraige, how do i apply for amesty, if i dont do something i actually dont know how to get out of this situation and have no means of actually clearing my name to start fresh

    Please help me i am literally desperate

    Samantha

  • […] was nudged into the hunt of my first free annual credit report amidst the Credit Information Amnesty frenzy. I needed to see my credit report to establish if the 2014 credit information amnesty was the […]

  • […] A credit report gives a consumer a view of how they look to potential creditors. It also helps to check if there is any fraudulent activity or identity theft which is a growing problem in South Africa. Checking the credit report is important on the back of the recent credit information amnesty. […]

  • I need help due to circumstances I have fallen into massive debt backlogs, now I have no job and if I go for interviews they do check and see I am on itc I am unable to pay because I have no income and would like to start over. Obviously I have made the debt and I will and want to pay it. But can not get work because of listing what can I do I really need help please.

  • Hi I’m not sure I’ve taken a jets account when I was working in postnet. But in 2010
    Then I lost my job but I’m still not able to get a loan I’m a permanent worker at checkers I
    Really looking for a loan please can you assist

  • […] from the latest credit amnesty, I recently wrote about my experience of securing a credit report and exposed gaps in the system. […]

    1. I paid my jet account and my card was handed to vvm amd they told me that I’m not blacklisted,I finished to pay that acconut 2 months back but I can’t be able to get a credit from other shop

      1. I want my name to be removed from credit bureau bcs I managed to pay my jet acc because they handed my acc to vvm and they told me that I’m not blacklisted but now I can’t be able to get credit from other shops and I finished to pay them 2 months back but my name still on their list please help

  • I want you to erase me from bad credit record today

  • I was listed on ITC in November 2011 for a doctors bill dating back to 2006! my medical did not pay the bill and in all that time I never received a reminder or bill for this. I was then bullyed into signing an acknowladgement of debt by the attourneys office and ended paying R7000 for a bill that was only R700. I found out about the listing on ITC, paid the the monies and when I heard about the amnesty I was pleased as I did not have to pay someone else R3000 to clear my name. Yesterday I discover that the listing on ITC is still there and does not reflect that I had paid the attourny the money, which was done by May of 2012.

    Now what do I do?

  • I hereby am blacklisted and unemployed.I t has been five years now since I last worked.what must I do now to be in a employment status?I can’t pay ,y debts due to this problem I’m having

  • This is great but unfortunately most banks and companies now have their own internal policies.The whole of the RCS group denies me to have an account and this is leading outlets like Makro,Dion Wired,Game and it seems like the whole of retail is RCS orientated.5 Year waiting period 🙁

  • Dear Sir/madam

    I am under debt administration, how do I remove my name?
    Please help..

  • I have paid accounts which were paid up before the amnesty 1st April 2014 but still appear on my credit profile what do i do from here onwards.

  • How long does it take to clear my name after settling my debts

  • Hi I need my name cleared I do pay my debt of so how can my name be cleared please

    best regards

    Timothy

  • Masiloane keakabetse

    I wnt people who can help me to pay my account because im nt working…

    1. Why this shop’s that we owe can’t hire us and deduct their money every month. We can’t pay them because cos we have lost our jobs. How can you pay debt if you don’t have a job .It is very simple hire us n deduct your debt.cos Im really willing 2 pay but I cant. And by BLACKLILISTING ME YOU ARE PREVENTING ME FROM FINDING A JOB.

  • iam 26year old unable to pay my credits becouse iam unemployed.. i cant even find a job to pay becouse of my bad credit.please help

  • I want to clean my name I am pensioner now and got to much debt and live with that my salary is R9998 per month and and at the end of they I have nothing left if the can help me with the amnesty it will be greate full

  • Can someone contact me 0839853889

  • how do i get a loan iam under debt review

  • I need the contact numbers please

  • M also blacklisted n still quiet and unable 2 geta job coz of my listing so how do i go abt with this amnesty thing plz plz help

  • good day …i wana know if im blacklisted and by whom my id number is ……………………………………………………………………………………..

  • I am under debt administration, how do I remove my name?
    Please help l already paid off all the credits

  • Goodmorning

    I would like to know the status of my blacklisted debts.

  • I would like to know if Credit Amnesty is still on if I can apply for it since it 2016 now.

    If so, what are the steps to follow when applying for it.

    My credit record really affect my childs life and mine.

    Your help will be highly appreciated.

  • My credit is no longer appearing on my credit profile and I did settled the amount so I want to know what happens to it.

  • I have four account only two is appearing the other two accounts is no longer appearing on my credit profile and I didnt settled the amount. So want to know what happens to it.

  • makhari tondani

    I was blacklisted from the gym the problem is that I never went to that gym .so I wonna know how much I’m owning n wat must I do

  • Who qualifies for the amnesty and how many years would it take to qualify?

  • Caroline THWALA

    Am blacklisted and i do have judgement under my name. But now i want to know that did i qualify for amnesty so that i can able to start my life in a new slate. If so tell me what must i do.

  • AUGUSTINA M HANONG

    I WA UNDER DEBT REVIEW AND I FINISH PAY ALL MY DEBT AND I HAVE CLEARANCE CERTIFICATE HOW TO APPLY FOR CREDIT AMNESTY

  • after noon I would like to ask gore how long does it take a person to be cleared from ITC after a person has paid the debt

  • Im in arears on my 3 loans and i owe R40000.so i wanna pay them off end of this month(september).so hw long do its gonna take to clear my name and qualify for finance please?

  • I’m having a few accounts that was handed over and my blue bean credit card. Do I qualify for amnesty. I did pay my outstanding balance and are still busy to pay the others off. I wanna start a new life. What can I do to clear my name. I want to build myself a house and therefore I need to make another loan.

  • Good Day please I need to ask for help I am under debt review I need a loan to pay. My debt review people I only have 3 accounts African Bank 25 thousand Rand Jet about 1 thousand Rand ABSA Bank 1,250 thousand Rand in total need 30thousand Rand please I really need help I got too get out of Zero Debt review please I hope u can help me thanks

  • What must i do i dont undersand

  • All I need is too. Get out of debt review people need money to pay all my debts please let. Me know. How it works thanks

  • I want to known how long will my name stay under gurnishment although I finish the debt

  • I’m blacklisted I owe two retail shops who handed me over! I’m unemployed been looking for work can’t find any! Pls help!

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