Question:
I applied for debt review in October 2013 but cancelled as soon as they started deducting when I discovered that they did not deliver as they promised. My problem now is that even though they said they have cancelled because they stopped deducting, they did not remove my name and that prevents me from getting approved for credit. Could you help me?
Answer:
Ian Wason, CEO of DebtBusters, answers our readers' question:
In this situation, it would be best to speak directly to your debt counsellor. The fact that you have voluntarily withdrawn from the process will still be evident on your credit report as you it would indicate that you have not been rehabilitated. In this case, it is at the creditors discretion to award you credit or not.
Not getting access to credit may be a result of your credit record and payment history.
It would be best to clear your current credit record by settling your debts and work towards getting a better credit record before attempting to get further credit.
Featured Question: I cancelled my debt review, and now can't get credit?
10 Feb 2015
Recent Articles
Featured Don’t fall for these credit repair scams
You may have received a notification from someone claiming that they can fix your credit score in a matter of days. Unfortunately, this is too good to be true.
Should you share a bank account with your partner or a friend?
If you’re living with your long-term partner or a friend, it’s likely that your finances have become entwined over the years and you no longer keep strict track of who owes who what. Perhaps it’s time to mix your finances officially with a joint bank account.
How to protect yourself from financial fraud
Financial fraud is prevalent in South Africa, as it is globally. According to the South African Banking Risk Information Centre (SABRIC), cybercrime, in particular, is becoming even more common than ‘traditional’ bank crimes. In 2019, some R284.4 million was stolen via digital means, an 8% increase from 2018, while credit card fraud accounted for R37.2 million.
Deals
Colosseum Deluxe Holiday Special
Price: From R900
When: Until 30 September 2020
Where: Cape Town
Pure Day Spa Mother’s Day Special
Price: R850
When: Until 09 May 2021
Where: Cape Town
The 41 Tuesday Specials
Price: Available on request
When: Tuesdays
Where: Cape Town
Our suppliers and companies we review
