OFF THE BLACKLIST?
Many people think that when their names are cleared after being blacklisted, they no longer owe any money to their credit givers. But they are wrong. Being removed from the blacklist, does not mean that the debt automatically falls away. You still have to pay the money owed to the credit givers.
A person can get blacklisted after a court gives an order to have his or her name blacklisted. This happens only after he or she failed to pay outstanding debts after getting letters asking for payment and allowing a period of time in which to pay. If the person still does not pay, he or she will get a letter warning that they may be blacklisted.
According to the law, the credit givers still have a right to demand payment of the outstanding debt, even after the person is no longer blacklisted.
The law also allows the person or company who is owed the money a period of 30 years to get the money back. Credit givers further have the right to use the law to get the money back. For example, with the help of the law they can get the money directly from the salary of the person who owes them.
It is very important to remember that being off the blacklist does not mean that you are automatically debt free. To keep your name clean, go to your credit givers and talk about a repayment plan for the blacklisted account.
When a repayment plan has been agreed on, it is important to make regular payments to avoid sliding back into the debt trap. By making regular payments, you will also avoid paying more money as a result of interest being added to the amount owed.
- Muzi Mkhwanazi