What happens after default listing expires on itc and I default on repayments

[africanqueen]

Hi,

I hope someone can clarify a few things for me- I've tried (unsuccessfully) to get answers from both ITC and NCA call centres and came across this site on a google search

I have a large outstanding amount on my Nedbank credit card. This is being paid monthly, as per arrangements made with them back in 2009.

I was retrenched at the end of 2007, and was unemployed for almost 18 months. During that time, I was unable to keep up with my regular repayments, though I did make smaller payments whenever I was able to. I started making regular monthly payments since June 2009, and have since kept up with that agreement. 2 weeks ago I requested a free ITC report and saw that the debt is listed as a default, explanation is bad debt written off. No updates of my payments are recorded in the payment profile. I wasn't even aware that this was listed as a default- just thought it would show that my account is in arrears.

This default was listed on 28/10/2009, and if I understand it correctly, will be removed at the end of this month. So, what happens now? I'm making regular payments, albeit a small amount (I pay R1000 and my balance is now just over R19k).

If I default on payments again can the bank take judgement against me?

Can someone please shed some light on this for me.

Many thanks

[Dave A]

If you default, you'll probably get listed again. Banks are pretty ruthless.