|Will my default be listed on my credit history?||It will be if your creditor lists it as part of their credit policy or if the debt remains unpaid and a judgment is entered. Once a default is listed with a credit bureau it will remain there for five years. It will only be removed if the account was incorrectly listed in the first place. |
Banks and financial institutions and some larger companies that extend credit use this information to determine whether to offer credit or not.
|How can I pay my account?||There are several options to choose from including: cheque, credit card EFT and BPay.|
|I can’t pay my debt in full. Can I pay by instalments?||Accounts ultimately need to be paid in full and it is our obligation to our client (the person you owe money to) to find a solution that is acceptable to them. If you can’t pay in full then we need to confirm your financial situation and agree to a payment plan that is acceptable to the person you owe the money to and that you can afford -This needs to be in writing.|
|Legal action has started on my account; can I still pay it off in instalments?||Please call us immediately to explain your situation and we will do all we can to help you set up a payment plan. Ultimately it needs to be acceptable to your creditor.|
|Why do you need all my contact details?|| |
We need to be able to correctly identify you and establish that the account belongs to you. If your contact details are up to date, we are in the best position to contact you to discuss your situation and provide assistance.
|Will I still be able to get credit if my account has been listed as a default with a credit bureau?|| |
This is out of our hands. When you apply for credit, the provider may perform a credit check to assist them in their decision. If your debt has been paid in full this will be looked on more favourably, but won’t guarantee that credit will be approved.