Many South Africans worry about being “blacklisted,” but what does that actually mean? Annaline van der Poel, COO of Debt Rescue, joined Metro FM to clear up the confusion and explain what steps you can take if your credit record has been affected.
What Does “Blacklisted” Really Mean?
Annaline explains the reality of negative credit listings, explaining that being “blacklisted” is a general term used for various credit issues. It could mean anything from missing payments to having a judgment issued against you.
What Affects Your Credit Score?
Many people assume that only larger debts, like car or home loans can affect their credit record, but Annaline pointed out that cellphone contracts, store accounts, and even unpaid short-term insurance premiums can also impact your credit score.
What is a Judgment, and Why Does It Matter?
She also explained what a judgment is: when a credit provider takes legal action against you for non-payment. A judgment can have serious consequences, including the risk of asset repossession if the debt remains unpaid.
Knowledge is power! Listen to the full interview where Annaline offers practical advice for anyone trying to improve their financial situation.
