Fin24 reports that:

“Significant strides have been made in resolving complaints from consumers and businesses negatively affected by credit bureau information and disputes with credit providers, the credit ombudsman said on Wednesday.

Credit Ombudsman Manie van Schalkwyk said 3 550 out of 3 870 disputes were settled in 2010.

“The credit ombud ruled in favour of consumers in 69% of cases and 86% of all cases were resolved within 60 days, compared to 79.48% the previous year,” Van Schalkwyk said.

“We managed to put R700 000 back in the pockets of consumers.”

Van Schalkwyk said consumers need protection and assistance more than ever to ensure that accurate information is held on their credit profiles in the depressed global economy.

“Our report shows that we continue to be a helping hand for thousands of consumers each year.” “

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