Be warned, credit providers, or you won’t be going anywhere

Ideas

Be warned, credit providers, or you won’t be going anywhere

If you don’t want to lose customers, even defaulters, best you keep tabs on how your debt collectors treat them

Consumer journalist

Nozipho Mdawe knew she’d overpaid her debt to MTN, and she had, by a whopping R11,000. In December 2019, she was told that while she no longer owed the telecoms company a cent, no refund was due to her.

If you don’t pay what you owe your credit provider, there are a lot of things they can do to “punish” you.

Put a “black mark” on your credit profile, for starters, preventing you from getting further credit; hand you over to a debt collector who will pad that debt with interest and their costs; and, if you still don’t pay, get a court judgment against you...

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