You Can’t Avoid an ITC Check
When you enter into a credit agreement with a credit provider they will most likely run an itc check before forwarding any funds. It is thus important to ensure that your credit record remains without blemish. A bad credit rating can be entered for many reasons. Most people are unaware that you can receive a bad credit rating for not paying your accounts on time. If you will not be able to pay your account on time you can contact your creditor and inform them when you will be able to pay the installment and ask them not to submit your record to the credit bureaux until that date. Non-payment of an installment will result in a higher score which cannot be removed as easily from your record.
If you continuously fail to pay your installments, your creditor may seek legal action against you and hand you over to lawyers who will institute a judgment against you. Once this happens you will be blacklisted with the various credit bureaux and will not be able to clear your record until you have settled the debt and the court rescinds the judgment against you or until a 5 year period from the date of the judgment has passed. It is imperative that you run an itc check to ensure that you have not been black listed for any debt.
Mistakes happen and errors can occur in any organisation. If you have wrongfully been blacklisted or received an unintentional bad credit rating from a creditor the matter must be rectified as soon as possible. To do this you need to contact a lawyer or refer the matter to the National Credit Regulator who is the monitoring body for all credit bureaux in South Africa.
To get your itc check and get your credit record amended or wiped clean, please contact us for the best advice.
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