Once I paid the default, why is it not removed?

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.

    • Related Articles

    • What is default information?

      Default data is negative information supplied to TransUnion by the store or bank if you default on your credit agreement with them, that is, if you fail to pay your account.  A default remains on your credit report for 1 year, depending on the ...
    • What is default data?

      Default data is information supplied to a credit bureau by the credit grantors that relates to late payment or non-payment on accounts. Different retention periods apply for different types of defaults.  Classifications such as 'delinquent', ...
    • What is a judgment?

      A judgment is granted by the court against a consumer who has not paid their debts to a credit/service provider. A judgment is public information and remains on your credit report for 5 years or until the judgment is rescinded by a court or paid in ...
    • What is a rescinded judgment?

      When a judgment has been granted against an individual in error, or when other irregularities have occurred, or if the credit/service provider agrees to the rescission, judgment could be rescinded and removed from the consumer's credit report.