Rescission of Judgement by Consent
Having a clear record and a good credit score is important to all of us. It can influence a credit provider’s decision whether to provide you with a loan to buy that new car you wanted or it can influence a bank’s decision on whether or not to give you a bond to purchase your dream house.
In certain instances, where a person or a company has taken judgment against you for an outstanding debt and you eventually pay off the debt, it does not mean that the judgment will be automatically removed from your name or credit record.
Any judgment that remains on your credit record will have a negative impact and your negative credit score will eventually give credit providers the impression that you are unreliable when it comes to payment of your debt, which means you are not getting that new car you wanted. To rectify your score you will have to submit an Application for Rescission of Judgment by Consent as soon as the debt has been paid in full and have the Credit Bureaus update your credit profile.
An Application for Rescission of Judgment by Consent is a simple application to Court, whereby you inform the Court that there is a judgment against your name, that the judgment has been paid in full, and that the person in whose favour the judgment is has given you his/her consent to remove/rescind the judgment.
This information is provided to the Court in the form of an affidavit, together with supporting documentation such as a copy of the judgment, a paid-up letter from the person in whose favour the judgment is or their attorneys, and/or a consent letter from that person or their attorneys stating that the judgment may be rescinded.
Should you be unable to obtain certain information or documentation, it is always beneficial to request an attorney to assist you with obtaining the required documents or information. It is also advisable that you appoint an attorney to prepare the application and go to Court on your behalf. Always remember to consult an attorney or legal practitioner where you require sound legal advice or might be faced with a legal problem.
After a Court has reviewed your application, it will issue an order, stating that the judgment previously granted against you is now rescinded. Once your attorney or you have received the Court’s order, you can provide it to major Credit Bureaus and request that they remove the judgment from your name and update your credit profile to restore your good credit record.
A judgment that is listed against your credit record, even though it has been paid in full, will still harm your credit profile. Thus, it is important to make sure that any judgment against you that has been paid in full is removed from your name by way of the said Application.
If you found this article informative and have judgments against your name that must be removed, you are more than welcome to contact the offices of Oosthuizen & Co, by email at firstname.lastname@example.org or by telephone at 021 872 3014, where one of our friendly attorneys will arrange a consultation with you and will be more than willing to assist you.
Remember to consult with a qualified legal practitioner or admitted attorney when seeking proper legal advice.
(Admitted Attorney of the High Court of South Africa)
(LLB University of the Western Cape)