C
Credit
Credit Impaired
Your credit record is kak — you've defaulted, got a judgment, or you're under debt review. Banks see you as high-risk. New credit is tough to get. Some sketchy lenders will still give you money but expect to pay way more interest.
Usage Examples
"Andile missed three payments on his car loan and got classified as credit impaired. Now when he applies for new credit, every bank sees 'credit impaired' and declines him. Even Capitec, which approves most people, said no."
"Thandi went under debt counselling and her credit report shows it. She's credit impaired. African Bank still gave her a R5,000 loan but at 24% interest instead of the 15% others would charge. The impairment cost her."
"Sipho was credit impaired for years. He paid off his debts, stayed clean for 24 months, and eventually the impaired status dropped off his report. Now he can get normal rates again. It took effort, but it's possible to rebuild."