This judgment will stay on your report for five years, unless a court of law rescinds the judgment. Paying off debts on time will prevent negative information from appearing and improve your credit score. According to TransUnion, paying off debt will remove your name from the blacklist within 7 – 20 days.
How to Check Creditworthiness
You can check your creditworthiness by requesting a free credit report. As a South African citizen, you are legally entitled to one free annual report. Contact reputable credit bureaus such as TransUnion, Experian or Compuscan.
Blacklist Duration and Debt Expiry
Information stays on your credit report:
- Sequestration for 10 years
- Rehabilitation Order for 5 years
- Dispute Enquiries for 1.5 years
- Court Judgement for 5 years
If you’ve missed a payment, the late payment can appear on your credit report after 30 days. Even if repaid, the late payment stays on your report for 7 years.
Most debts expire after 3 years. If you don’t acknowledge debt or make payments in those 3 years the debt can be freed.