Default
Usage Examples
"Bongani missed three payments on a Capitec personal loan in January, February, and March. By April, Capitec registered a default on his TransUnion record. Even though he paid it off in June, the default listing stayed until June 2027. Hectic."
"Thandi got a default listed when she was three months in arrears on her FNB credit card. Six months later she settled the R8,000 balance. The default came off two years after settlement, not two years from when she defaulted. Plan to have it on your file for 2.5 years minimum."
"Nomsa had a default from a car finance company that got sold to a collections agency. The collections agency recorded it, then she settled. The original default stayed on her report, plus a payment record from the collections agent. Nightmare to explain to lenders."