NCR Guide on How Credit Providers Should Update Payment Information for Consumers Going Through Debt Review

The law gives the National Credit Regulator (NCR) the power to give guidance to companies that lend money. This guide explains how these companies should update information about people’s loan payments when they are under debt review — a process that helps those struggling to pay their debts.

The NCR has noticed a problem: Some lenders are not sending updated payment information about these consumers to credit reporting agencies. Because of this, after a person completes the debt review and gets a certificate confirming they are cleared, their credit report still shows no payment history. This makes it look like they have very little activity or history with credit, which can hurt their chances of getting new loans since lenders have no proper record to judge their reliability.

How Consumers Benefit: Better Chances to Get Credit After Debt Review

If lenders send accurate payment information during the debt review period, consumers will have a clear record showing their repayment efforts. This record helps future lenders see that the consumer has been responsible with their payments. When a person finishes debt review and receives the certificate, having a good payment history can make it easier for them to get new credit and be seen as trustworthy again.

What Credit Companies Need to Do

This guide reminds lenders of their legal duty to report accurate and up-to-date information about their customers. After a consumer finishes debt review and gets a clearance certificate, lenders must remove all old records related to that debt review, such as missed payments or restructuring agreements, from their reports.

This new guideline starts right away. Find the guideline here: https://www.ncr.org.za/documents/Guidelines/Guideline%203%20June%202025.pdf

-Vanessa Johst (Operations Manager – DCASA)