Blacklisted – In need of help?
The term, blacklisted is outdated and non-applicable! The credit bureaus only listed negative information about credit user behaviour before the 1980s.
Historically, creditors would keep an actual list, referred to as a blacklist, of names people, products, companies and even countries. They believed believed them to be untrustworthy or a risk to the creditor. Hence, the origination of the expression, blacklisted.
What does ‘Blacklisted’ really mean?
Influenced by foreign trends, credit bureaus are now obliged to disclose both positive and negative information about credit users. This has enabled improved access to credit.
Are you under the impression that the credit bureaus only kept a record of negative information? Well, the fact that the word is actually obsolete may be news to you. On average, 60% of the information kept by a credit bureau is positive.
It’s simply not possible. Then again, you may be part of the 40% who have negative information listed under their credit profile.
Seek out a Debt Counsellor
You will find that a standard credit agreement outlines that you are required to pay an instalment of a certain amount by a specific date every month. Moreover, if you do not settle, it means you are in arrears and possibly in breach of the credit agreement.
In such circumstances, it’s advisable to approach your credit providers to make arrangements. On the other hand, if you’ve skipped several payments seeking out a debt counsellor is the recommended recourse.
NDA can help to rehabilitate your credit record, by negotiating with your credit providers for more affordable instalments and rates. This will enable you to settle your debts and receive a clearance certificate. This will allow for the removal of all negative data on your report. Our website also has everything you need to know about how debt review works.
Free Credit Check
Moreover, NDA will contact the credit bureaus and request a copy of your credit report. The National Credit Act entitles every consumer to an annual free credit report. This will help us to establish whether or not the information listed under your credit profile is accurate.
If any negative information is incorrect, NDA will arrange for it to be removed immediately. As such, you will no longer be ‘blacklisted’. Or, more accurately speaking, your credit profile will only reflect positive information.