Tuesday, November 24, 2009

The slang term blacklisted and what it means:

In South Africa there is a well known general slang term being blacklisted. The truth is that there isn’t really such a list called Blacklist. The term or the slang term Blacklisted refers to credit active consumers or persons who, for one reason or another, have defaulted on an agreed credit agreement with a credit provider. As soon as a credit judgment, default or trace alert have been loaded on the consumer’s credit profile held at the various credit bureau you are so called blacklisted.

The next time the credit active consumer who previously defaulted on these credit agreements apply for new or extended credit facilities the new credit application will be assessed and an enquiry with the credit bureau will be done in order to assess the affordability and profitability of the application. The credit bureau will release the report with your signed consent to the credit provider who will instantaneously see that you have defaulted on past credit agreements and decline the new credit application.

Any of the following will classify the credit active consumer as being blacklisted.

· Credit Judgments

· Defaults

· Notices

· Trace Alerts

· Poor repayment history (Pay one month , skip the next etc)

· Low emperica and delphi credit scores

Having adverse information on your credit report classifies you as being blacklisted. Contact us today to remove adverse information and to improve your credit score. www.creditsalvage.co.za

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