Game over for prescribed debt

DebtEmployers and employment agencies can no longer ask job applicants for their permission to view their credit records – unless the advertised position involves the handling of cash or finance.

Since last Friday, March 13, in terms of the new National Credit Amendment Act, it is illegal for a company to contact a consumer and demand that they pay a prescribed debt.

Q: Kate Mvula asks: “Please help, my sister and I have a home loan on a repossessed house which we bought.
“We stopped paying about four years ago because the people occupying the house refuse to get out.
“Now we are called and told we must pay. What must we do?”

A: Most debts, such as clothing accounts, cellphones and credit card debt, prescribe after three years – if there has been no payment or acknowledgement of it and no summons in respect of it – and the consumer is then not obliged to pay the debt.

But unfortunately, mortgage (home debt), along with tax, rates, TV and  licence debt only prescribes after 30 years, so this debt remains payable.

Since last Friday, March 13, in terms of the new National Credit Amendment Act, it is illegal for a company to contact a consumer and demand that they pay a prescribed debt.

Should you get a call or SMS about this debt, point that out, and then say: “That debt has prescribed. Please don’t contact me again.”

Can I keep my credit record secret as a jobseeker?

Q: Welheminah Vilakazi asks: “How do I know if I’m blacklisted? I ask because I was once declined a job due to bad credit record.”

A: Since Friday, March 13, when the National Credit Amendment Act was signed into law, employers and employment agencies can no longer ask job applicants for their permission to view their credit records – unless the advertised position involves the handling of cash or finance.
As for checking your credit record, you are legally entitled to one free credit report a year.

Contact details of three major credit bureaus:
TransUnion: www.mytransunion.co.za, 0861 886 466
Experian: www.experian.co.za, 0861 105 665
XDS: www.xds.co.za  (011) 645 9100

If you disagree with a listing, lodge a dispute with the credit bureau.

If, after 20 days, the adverse listing remains, you may approach the credit ombudsman for help, by calling 0861 662 837 or e-mailing Ombud@creditombud.org.za


Source: http://skillsjobs.co.za/feed

Originally posted 2015-03-19 17:30:58. Republished by Blog Post Promoter