National Credit Act, 2005 (Act No. 34 of 2005)NoticesGuideline for the Submission of Credit Information in terms of Regulation 19(13) of the National Credit Act, 34 of 2005, as amended4. Timeframes for reporting credit information |
A credit provider must report credit information to the credit bureaux in the following manner and timeframes:—
| 4.1 | The details of all new credit agreements entered into with consumers within 48 (forty-eight) hours of the credit agreements being concluded; |
| 4.2 | The details of all closed, terminated, rescinded or settled credit agreements within 48 (forty-eight) hours of the credit agreements being closed, terminated or settled; |
| 4.3 | The monthly payment profile information of consumers within 5 (five) business days of the agreed billing cycle; |
| 4.4 | Subject to the provisions of Regulation 19(4) and Regulation 19(7), the adverse classifications of consumer behaviour and adverse classifications of enforcement actions on a monthly basis; and |
| 4.5 | The submission of all adverse information and judgment debts as set out in S71A(1)(a) to (d) of the Act within 7 (seven) days of such settlement by the consumer. |