Debt-strapped citizens are taking short term loans to ‘balance’ cash flow as wages fail to keep up with the cost of living
Credit Bureau Association still waiting for more information.
The uptick in credit sector has been driven by the demand for unsecured loans, but the reserve bank is not concerned.
Many consumers apply for credit, only to find out that their application has been turned down due to negative credit information.
The Credit Ombud is encouraging consumers to check their credit bureau records, prior to applying for credit.
Is South African Fraud Prevention Services operating as a credit bureau? If so, it should be registered as one, says the NCR.
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/ 13 September 2010
<b>Fiona Zerbst</b> discovers that protecting your credit record is easier said than done.