Don't give up disputing your credit bureau information

By Staff Writer

There has been an increase in the number of complaints to the Credit Ombud regarding difficulty consumers face in getting the correct assistance when trying to  dispute  the accuracy of their credit information held by the credit bureaux.

“Many of the complaints we received related to consumers at times not getting the relevant dispute reference numbers for dispute logged.” says Credit Ombud, Manie van Schalkwyk. “At times , consumers were referred to their courts or their credit providers for assistance when disputing their credit records.”

But van Schalkwyk says in terms of the National Credit Act (NCA), credit bureaux are required to take reasonable steps to seek evidence in support of the challenged information, provide any consumer who challenges their credit information with a copy of evidence supporting the information or if the credit bureau is unable to find credible evidence backing up the information, they must remove the information and all record of it from their files.

“Every person has the right to dispute the accuracy of their credit information and a dispute reference number must be issued to consumers immediately, whether the information was disputed telephonically or in writing,” adds van Schalkwyk.

He explains that the best way for consumers to dispute unfair or incorrect credit information listed on their credit profile is first to contact the relevant credit bureau and record a dispute by specifying the information under dispute and requesting a dispute reference number.  The issuing of a credit bureau dispute reference number is proof that the consumer’s dispute has been logged. The credit bureau must correct the information or resolve the dispute within 20 business days.

“If you are not satisfied with the outcome or if you did not get an answer from the credit bureau you can log a complaint with the Credit Ombud, this service is free of charge to consumers,” says van Schalkwyk.

In the event that your dispute is rejected by the credit bureaux, you should contact the credit Ombud. The office requires information from the consumer including the information disputed and reasons why you are disputing it as well as your personal details.

“It’s very important to keep track of all your communication with the credit bureau, including written communication, the telephone number you used to call the credit bureau, as well as the name of the person you spoke to and the date.

“Our main aim is to ensure that innocent consumers aren’t prejudiced by incorrect or unfair credit information held on their credit profiles and that credit bureaux respond to consumer enquiries as they are required to by law,” says van Schalkwyk.  Consumers can contact other credit bureaux on the following numbers:

Transunion – 0861 886 466
Experian – 0861 105 665
Compuscan – 0861 514 131
XDS – 0860 937 000

And the Credit Ombud on 0861 662837 or www.creditombud.org.za

Recent Articles

Featured Register your customary marriage or lose the right to inherit estate

December is that time of the year when we will see at least one suitor sending his uncles to negotiate the price of his future wife. Lobola, as the bride price is known, has always been an important element of the African marriage.

Read more

Changing from one medical scheme to another - effortlessly

It is coming up to the end of the year and you might be looking to change medical schemes, or options within a scheme in preparation for the new year. While you don’t necessarily have to wait for year-end to do so, providers often recommend it.

Read more

Your guide to financially surviving Christmas

There are a few times each year where you need to dig deeper into your pocket and spend more money such as birthdays, anniversaries, and the Christmas period. Whether you celebrate this religious holiday or not, the festive period - depending on how you choose to spend it - means increased travelling, buying of gifts, entertaining, and eating out at restaurants.


Read more

Trump, Trump and a little bit of South Africa

What a November we had, with the rand staging one of its best months and closing below the R14.00 level. To be honest, this looked like quite a far-fetched possibility at one stage during the month. It seems that the tide has changed a little, even though it might be short lived since the US dollar bulls are not so sure of their case anymore.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Free iCollege Scholarship

Price: R600
When: Until 16 May 2019
Where: Nationwide

Telkom December Big Deal

Price: R459 pm
When: Until 31 December
Where: Nationwide

Money Savvy Kids Giveaway

Price: R450
When: 8 December
Where: Johannesburg (Milpark)