Removal of adverse credit information and information relating to paid up judgements
DTI Minister Rob Davies this week issued new regulations in regard to the National Credit Act and in particular the removal of adverse credit information and information relating to paid up judgements. This now means that some information such as descriptions like ‘slow payer’ will now be removed. This will not mean the debt is written off.
Credit Bureaus have been given 2 months to remove the negative information. They can ask for an extension if they are not able to do so by then.
Read the new regulations now
You can download the regulations here: Gov notice DTI 26 Feb 2014 removal of adverse consumer credit info