©2012 Experian Limited. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian Limited. Other products and company names mentioned may be the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without prior written permission of Experian Limited. Experian Public. Consumer Credit Information Overview Cape Town

2 ©2012 Experian Limited. All rights reserved. Experian Public. Introducing Consumer Information What do we do? Where does Experian source its data? Public information from South African courts on civil judgments, sequestrations and administration orders. Account information from nearly all companies that offer credit, such as banks, clothing and furniture stores. Payment information from debt recovery companies.

3 ©2012 Experian Limited. All rights reserved. Experian Public. Important facts Experian Credit Bureau provides credit grantors with information on how consumers manage their credit commitments so that they can quickly make fair, consistent and responsible decisions about granting credit. Experian does not make the decision on whether or not to grant credit. The decision is made by the credit lender based on their own credit granting policy, which could take into account credit bureau information.

4 ©2012 Experian Limited. All rights reserved. Experian Public. Enquiries 83 Million Enquiries Each time a credit grantor enquires on a consumers name a footprint is left Each enquiry is date stamped Enquires are retained for a period of 2 years

5 ©2012 Experian Limited. All rights reserved. Experian Public. Default Information - Under the NCA 4.1 Million Default Details Data collected from credit grantors on consumers who have not conducted their accounts responsibly. Credit grantors are required to give 20 Business days notice of intent to list with the credit bureau.

6 ©2012 Experian Limited. All rights reserved. Experian Public. Default Information - Under the NCA Adverse/Default information of enforcement is retained for 2 years: Written off Repossession Credit Card Revoked Handed Over/ Legal Adverse/Default information of behaviour is retained for 1 year: Experian/ Non- CPA adverse Cheque account misconduct Settled Absconded

7 ©2012 Experian Limited. All rights reserved. Experian Public. Account Information 101 Million Account Information Details (CPA and NLR) Credit grantors provide repayment history on how consumers conduct their account payments Repayment history is stored on our database for 3 years

8 ©2012 Experian Limited. All rights reserved. Experian Public. Account Information

9 ©2012 Experian Limited. All rights reserved. Experian Public. Judgements Judgements remain valid on the credit bureau for 5 years, unless rescinded Copy of the rescission notice must be provided to the bureau in order for the judgement to be removed

10 ©2012 Experian Limited. All rights reserved. Experian Public. Notices – Sequestrations/Rehabilitations Sequestration is normally granted when an individuals debts exceeds their assets (normally no income is being received) A sequestrated individual cannot apply for credit or operate as a director/member of a company/cc Sequestrations remain valid on the credit bureau for a period of 10 years, if rehabilitated, the notice remains for an additional 5 years All negative information, prior to the Rehabilitation date is removed

11 ©2012 Experian Limited. All rights reserved. Experian Public. Sequestrations/Rehabilitations

12 ©2012 Experian Limited. All rights reserved. Experian Public. Collections 183, 000 Collection records Snyman & Partners supply their collection data to Experian exclusively Collection data remains on our database for 2 years

13 ©2012 Experian Limited. All rights reserved. Experian Public. The National Credit Act Right to apply for credit, but not to receive credit Protection against discrimination in credit granting Right to reasons for credit being refused Right to information in plain and understandable language Right to receive documents Right to confidential treatment Right to access information held by credit bureaux and the National Credit Register, to demand investigation of disputed information, and correction of erroneous information

14 ©2012 Experian Limited. All rights reserved. Experian Public. Consumer Rights A consumer is entitled to a free copy of their credit report annually, should they require further copies a charge of R22.80 applies Should a consumer dispute the accuracy of credit information, the Bureau must investigate The disputed information will not be displayed until resolved, Should the dispute not be resolved within 20 business days, the disputed information will be removed off the consumers profile until such time that it is resolved. A dispute flag will be returned on the credit report under Notices.

15 ©2012 Experian Limited. All rights reserved. Experian Public. Debt restructure Consumers who are considered to be unable to satisfy, in a timely manner, all obligations under the credit agreements to which the consumer is a party to. A consumer can apply for his/her debts to be restructured / Creditors can apply for a consumer to be placed under Debt Restructuring For more information, please go to and select Debt counselling.

16 ©2012 Experian Limited. All rights reserved. Experian Public. CreditExpert An online product that provides consumers with online access to their Experian credit report and enables CreditExpert customers to receive credit report alerts that notify them of any changes to their credit record: One months free online access to your Experian credit report CreditExpert - Purchase your credit report for another month Monthly CreditExpert – A copy of your credit report sent to you via or fax, every month. Annual CreditExpert – annual online access to your report. CreditManager – monitors your credit report and alerts you of critical changes.

17 ©2012 Experian Limited. All rights reserved. Experian Public. NATIONAL CREDIT ACT 34 0F 2005 – OBLIGATIONS ON CREDIT BUREAUX Categories of Consumer Credit InformationDescriptionMaximum period 1.Details and results of disputes lodged by consumers Number and nature of complaints lodged and whether complaint was rejected. No information may be displayed on complaints that were upheld 18 months 1.Enquiries Number of enquiries made on a consumers record, including the name of the entity/person who made the enquiry and a contact person if available 2years 1.Payment Profile Factual information pertaining to the payment profile of the consumer 5years 1.Adverse classifications of consumer behaviour Subjective classifications of consumer behaviour 1year 1.Adverse classifications of enforcement action Classification related to enforcement action taken by the credit provider 2years 1.Debt Restructuring As per section 86 of the Act, an order given by the Court or Tribunal Until a clearance certificate is issued 1.Civil court judgments Civil court judgments including default judgment The earlier of 5years or until the judgment is rescinded by a court or abandoned by the credit provider in terms of section 86 of the Magistrates Courts Act 32 of Administration OrdersAs per the court orderThe earlier of 10 years or until order is rescinded by a court 1.SequestrationsAs per the court orderThe earlier of 10years or until rehabilitation order is granted 1.LiquidationsAs per the court orderUnlimited period 1.Rehabilitation OrderAs per the court order5years 1.Other informationAny other information not included in any category above 2years

18 ©2012 Experian Limited. All rights reserved. Experian Public. Useful Contacts Experian Consumer Relations Division Consumer queries: Emergency data updates: Technical queries: Credit Bureau Association Credit Information Ombud National Credit Regulator South African Fraud Prevention Services