Aquifin in contravention of National Credit Regulator (NCR) guidelines

I am writing to formally dispute the information reported by Aquifin on my TransUnion credit profile under my ID number **********085. The account in question was originally under Capfin, and the debt associated with this account was written off and subsequently sold to Aquifin. However, Aquifin has reinstated this debt on my profile, which is in direct contravention of the National Credit Act (NCA) and National Credit Regulator (NCR) guidelines regarding the reporting of sold and written-off debts.

According to the NCA and NCR regulations:

1. Once a debt has been written off and sold to a third party, it should not be reintroduced as an active credit obligation in the consumer’s name under the new entity. The original creditor, Capfin, had already marked this account as settled and sold.

2. Aquifin’s reporting misrepresents the nature of the debt, as it was already concluded in Capfin’s records.

3. This inaccurate reporting negatively impacts my credit score and financial standing, despite my compliance with debt regulations.

I kindly request that Aquifin:

- Immediately remove the incorrect listing from my credit profile to reflect the accurate credit status.

- Provide confirmation of the correction once the update has been made.

- Investigate Aquifin’s reporting practices to ensure compliance with the National Credit Regulator (NCR) guidelines.

FYI: Complaint has been escalated to the NCR. You might want to speak to your Legal Team about the implications and remove this credit bureau listing of my credit profile.