Credit amnesty for all
Around 1.6 million consumers are allegedly blacklisted and this may be one factor influencing the county’s high unemployment level.
Many South Africans have been blacklisted due to non-payment of debt.
Around 1.6 million consumers are allegedly blacklisted and this may be one factor influencing the county’s high unemployment level.
The Department of Trade and Industry has designed the credit amnesty to help the people that have been blacklisted.
The removal of blacklisted statuses has been given the go-ahead by cabinet, this means ‘bad’ credit records will not been seen.
“Consumers don’t have to register to get the amnesty rather it is the responsibility of the credit bureaux,” said Dumisani Gumede, chairperson of the credit amnesty committee.
The amnesty will only remove credit information like the person’s name being blacklisted and not the debt owed.
This can still allow for credit providers to take legal action to get their money from consumers who haven’t paid their debt.
“A deadline has been set for credit bureaux to commence with the removing the blacklisting,” said Gumede.
