Once I paid the default, why is it not removed?
Credit bureaus are required by the National Credit Act (NCA)
to retain this information on the consumer's report for the prescribed
retention period - regardless of whether it reflects negatively or positively
on the consumer. Therefore this information may not be removed before the
prescribed data retention period.
Most of the credit grantors in South Africa are also members
of the CPA (Credit Providers Association). As members they have agreed to the
time periods for which data should be displayed on a consumer's credit report.
The display period for a default is 1; for a judgment, 5
years. These periods are in line with the data retention periods prescribed by
the NCA. This enables banks and stores to make informed risk decisions when
deciding on whether to grant you credit.
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What is default information?
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What is default data?
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