Rescission of Judgement
What is Rescission of Judgement?
It is an application brought in court before a Magistrate to make such application an Order of Court to have your name removed from the Credit Bureau if you were blacklisted.
In order for such an application to be considered and successful, the client has to satisfy certain criteria:
- the account concerned need to be settled in full by the client;
- the client should be in possession of a letter from the creditor stating that the account has been settled in full with a nil balance;
- the client need to inform the creditor of his/her intentions of bring such an application and also inquire from the creditor if they have any objection to such an application and if such creditor has no such objection, the client should request that the creditor puts this in writing that the client may continue with such application which will then form part of the application;
- the client however, when bringing such an application should, once he/she has obtained a court date, should inform the creditor of such a court date to enable the creditor to either object or consent to such an application;
- once the client has received such objection or consent, the client may continue with the application and if the Magistrate is satisfied that all documents (incl. copy of the client’s ID, Settlement letter, confirmation letter from creditor as well as consent letter that the creditor has no objection to such an application) necessary is attached to such application and there is no objection from the creditor concerned, the Magistrate may make such application an Order of the Court.
* Once the client is in possession of such an Court Order, he/she will have to inform and forward a copy of the Court Order to all credit bureaus on which the client is listed of the order and request that his/her name be removed.
* The process of removing your name, may take any time from 20 days or more.
* The client may also forward such copy to the creditor and may request the creditor to remove his/her name themselves from these Credit Bureau.