I tried to apply for car finance in july 2012 and i was declined by all the banks. I understood because i just got out of serious financial problems. i waited five months and put up an application again in january 2013 since my credit reports have been clear of any defaults or judgements in the last six months. i was declined again. i enquired about the reasons for the decline and i was told that financial providers could see a bad debt written off on my profile for a wesbank personal loan. I then went to a branch (FNB) and i was told by the branch that they can see a bad debt written off. I subsequently called wesbank and was reffered to the wesbank legal department. An agent from this department confirmed that i settled the account and he said their system only shows me as a high risk. I can understand that, but it has been five months, surely my credit profile must have improved (i do not know how long these things takes, especially when they do not appear on the credit reports). i settled this "bad debt" in April 2011 and i have a settlement letter in my position. i think my credit profile can never improve because of one company with two conflicting systems.
(Supplier name changed from First National Bank to Wesbank by Hellopeter.com)
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