National Credit Act, 2005 (Act No. 34 of 2005)
Removal of Adverse Consumer Credit Information and Information Relating to Paid Up Judgments Regulations, 2014
In these Regulations any word or expression to which a meaning has been assigned in the Act bears the meaning assigned to it in the Act, unless the context indicates otherwise—
"adverse consumer credit information"
for the purposes of these Regulations means—
|(a)||adverse classifications of consumer behaviour are subjective classifications of consumer behaviour and include classifications such as 'delinquent', 'default', 'slow paying', 'absconded' or 'not contactable';|
|(b)||adverse classifications of enforcement action, which are classifications related to enforcement action taken by the credit provider, including classifications such as 'handed over for collection or recovery', 'legal action', or 'write-off';|
|(c)||details and results of disputes lodged by consumers irrespective of the outcome of such disputes;|
|(d)||adverse consumer credit information contained in the payment profile represented by means of any mark, symbol, sign or in any manner or form;|
"paid up judgments"
for the purposes of these Regulations means civil court judgment debts, including default judgments, where the consumer has settled the capital amount under the judgment(s).
means the National Credit Act, 2005 (Act No. 34 of 2005).