What Is Amnesty?
Credit Information Amnesty is a government initiative that takes effect on April 1, 2014. The credit bureaus removed information from your credit report as follows:
Once-off removal of negative information, including DEFAULTS, that were reflected before 1 April 2014 .
Once-off removal of paid-up JUDGMENTS that were reflected before 1 April 2014.
What Is Amnesty Not?
Amnesty DOES NOT change anything about loans themselves. Even if you qualified for amnesty, you are still just as responsible for your loans as you were before. So you still owe the lender per the terms of your credit agreement.
Amnesty does NOT forgive, pardon or write off your debt. It NEITHER reduces the debt you owe NOR changes the terms of your loans.
