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My credit record has been impaired as a result of certain dubious acts of the vehicle finance division of a major bank. When I defaulted on my instalments my vehicle was auctioned and an amount was still owed. I made no payments for the outstanding debt and no summons was issued against me for 5 years by which the debt had prescribed, or expired. I later discovered that a court judgement had been obtained against me. Apparently someone or the bank had been making small payments into my account to stave off the prescription. Is that not fraud? How do I clean up my credit record?

Category:  Banking & Finance, National Credit Act

Region: South Africa, Mpumalanaga