The worst listings are without doubt Notices. If you have been placed under debt
counselling or administration or been sequestrated you will not get credit, full
stop. You can apply to court to have the situation corrected. Likewise, if you have
been rehabilitated, chances are you will not get credit until the Notice is removed.
Unless any Notice is removed you cannot get credit because the credit provider is
acting recklessly or even illegally in lending you money.
Judgments are the next most serious type of listing. They are highly likely to stop
you getting credit. In rare cases you may still get credit despite having had a
judgment granted against you. You will just pay far more for the credit. Much depends
on the amount of the judgment, how long ago judgment was granted, what other listings
you have and whether your payments over the last two years have been on time or
were frequently missed or delayed. Fortunately getting a judgment removed is relatively
simple - you need to go to court to have the judgment cancelled.
Adverse Information can stop you getting credit but in most cases it will impact
the cost of credit more than your ability to get credit. Again, much depends on
whether it was a recent listing and whether the account remains unpaid. Although
this type of listing can be removed on instruction by the creditor most refuse to
do so unless they receive a detailed motivation proving you were not at fault, such
as retrenchment or hospitalisation. At the very least it is important to have the
listing amended to reflect that the account was paid.
Payment Profile information changes monthly as the payments made or alternatively
missed during that month get noted on your credit record. The most recent data gets
added while the oldest data gets deleted. It is far less serious than the other
types of listing but like the other types of listing, if you have a very poor payment
profile during the last six to twelve months you will either not get credit or find
the cost of credit far higher.