Real Estate Investor Magazine South Africa May 2014 | Page 25

RESIDENTIAL
Amnesty will have more of an impact on a bank’s new
clients; however most banks will have retained their
own record of their existing client’s payment profile and
credit history, which they will take into consideration
when looking at credit applications. 
The bank will have records of negative payment
history, so removing adverse information at the credit
bureau will not entirely clear a consumer’s name. 
Credit providers will still be allowed to keep the
adverse information on their databases, whether it has
been removed from a credit bureau or not.

The information of current credit-active consumers
will still be retained by credit bureaus and will be
made available to credit providers, so the amn