BF003 - Will my credit score be affected if I default on my payments?

Yes. 4AX Debt Services will send information about your debt to the official credit history database (CPA) 45 days after the initial payment deadline. When this happens, it might be difficult for you to get a new loan from any bank or credit institution in South Africa for the next 3 years. This means you have to be as responsible when you borrow at 4AX Debt Services as you are when borrowing from a bank or other financial institution.