ITC Clearance

Have you heard of ITC clearance? ITC clearance, or credit clearance, is the process of disputing inaccurate information with the credit bureaux. Usually, you start by writing a credit clearance letter and submitting it. Then, the bureaux have 21 days to assess the dispute and reach a verdict.

Credit clearance can supply you with a good credit score and grant you access to a squeaky-clean credit record. This enables you to access better loan terms, loans, better insurance premiums, better rental opportunities, easier job applications, and more.

How Does It Work?

To clear your name after your debt has been paid, start by writing a credit clearance letter containing evidence supporting the dispute. The evidence looks different for what you would like to dispute- for instance, to dispute debt review; you’ll need a clearance certificate, for judgments; confirmation from creditors that you’ve paid your debts; name changes, marriage certificates or Home Affairs documentation, and so on.

The credit clearance letter should discuss what you would like to change, and why, and explain the evidence you have included. After you’ve submitted the dispute, bureaux like TransUnion and Experion have 21 days to investigate the dispute, as per legislation. Usually, they will contact creditors and lenders you have worked with to confirm your evidence is true. Then, they will either expunge the error from your report or decline your dispute. If they expunge the evidence, it will disappear by the next billing cycle, or within 30 days when your credit score is refreshed.

If you would like to further dispute the error after the bureaux have declined your request, Cape Town Legal Consultants can help you further press the credit clearance dispute, either through litigation or the Credit Ombudsman.

Our experts have years of experience helping clients write credit clearance letters, collect evidence, submit disputes, pursue litigation, and working with the Credit Ombudsman. If you would like help clearing your credit with debt review removal, judgment removal, or credit clearance, contact Cape Town Legal Consultants today. Clear your name from ITC ASAP with one of the best debt review removal companies in South Africa.