Consumers confused by credit amnesty
The Credit Ombud has seen a 50,24% rise in complaints and enquiries relating to the new credit amnesty regulations. Speaking at the release of the Credit Ombud’s 2014 annual report, Credit Ombud Manie van Schalkwyk said complaints and enquiries totalled 16 146 for the period, an average of 1 345,5 complaints and enquiries per month. Under the new regulations published by the dti in February 2014 relating to the “Removal of Adverse Credit Information and Paid-up Judgments”, credit bureaus removed all existing adverse information from consumers’ credit records.