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Thread: ITC Clearance

  1. #1

    Default ITC Clearance

    Hi

    A lot of companies offer ITC Clearances to obtain credit again if one is blacklisted. Has anyone done it before? Does it really work

  2. #2

    Default

    No.

    Avoid.

    The only way to do this is do it yourself.
    If you have a default (not judgement), phone the creditor, pay it up, ask them to remove you - most will.
    If it is a judgement, phone the creditor, agree to pay it off if they will remove you once it is paid (rescind the judgement). Some creditors will, especially if they get their money.

    If it is a wrongful listing, phone ITC, tell them you dispute it - and they will then need to get the creditor to issue proof - or remove it.
    Think twice, speak once.
    ANC - outfailing itself year after year
    ESKOM - Eish, Sorry Krag Opge*** - Maintenance

  3. #3
    Resident DJ DJ...'s Avatar
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    Default

    I agree with Moederloos. I dont know much about this process but I imagine you would only be able to obtain a moerse interest rate for the additional risk that the lender is taking on. And I would imagine that this practice would be against the rules of responsible lending according to the NCA...
    Internet the way it was meant to be. Launch details will become Crystal Clear very soon...

  4. #4

    Default

    ja, pay what you owe, and they will more than likely remove you. Ask them before you pay. Make an agreement first. Otherwise they can keep you on there for up to 5 years I think? But most won't do that, its bad for business.

  5. #5

    Default

    Quote Originally Posted by Pixie22 View Post
    ja, pay what you owe, and they will more than likely remove you. Ask them before you pay. Make an agreement first. Otherwise they can keep you on there for up to 5 years I think? But most won't do that, its bad for business.
    A fair number of companies use a judgement as a weapon. They know that it is going to cause the debtor problems, and when it does, they can get their money back.
    So, yeah - most WILL agree to remove you once payment is made.
    Think twice, speak once.
    ANC - outfailing itself year after year
    ESKOM - Eish, Sorry Krag Opge*** - Maintenance

  6. #6

    Default

    I do not agree at all with Moederloos. maybe that is why he/ she got this type of screen name.

    creditors will NOT remove a listing from your name, especially a judgment. Even if you have repaid them in full with interest.

    To get a judgment removed/ rescinded a person needs to go to court. A creditor can not get a judgment removed. They have received their moneys so why would they go through all the trouble in clearing the judgment. The only time when they will remove it is when their attorneys offer such service at a price of caourse. When you go this route you will recieve the court order but you still need to remove it by yourselve by contacting the credit bureau. I have made use of a company like that where they helped me when i was sent in circles trying to sort out my ABSA matter.

    They got it removed by rescinding the matter in court and forwarding the court order to all the credit bureau.

    The only time creditors can remove a listing is when they wrongfully listed you.

  7. #7

    Default

    I once had a default, it was paid in full 6 month back. Even today the creditor did not update my credit profile.

    What should i do?

  8. #8
    Super Grandmaster YingYang's Avatar
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    Default

    Quote Originally Posted by mantwa View Post
    I once had a default, it was paid in full 6 month back. Even today the creditor did not update my credit profile.

    What should i do?
    Ask them for a settlement letter and send that to the credit bureaus? Its worth a shot

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