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The Credit Ombud not just fixes disputes between members of the non-bank credit industry (such as micro-lenders or stores) and customers, but will also investigate problems relating to credit bureau information totally free of charge. A couple of years back, the Credit Ombud was in a position to investigate debt review conflicts, nevertheless, the scenario changed in that the Codes associating with debt evaluation were changed and the plan with the Credit Ombud and the National Credit Regulator (NCR) was that all debt review matters would be dealt with by the NCR.

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The Credit Ombud will investigate a conflict from a consumer regarding the elimination of a debt evaluation flag, offered that the; consumer followed the problems process at the credit bureaux and the 20 business days paid for to the credit bureaux in terms of the National Credit Act had expired and the matter remained unsettled and/or the customer remained dissatisfied with the outcome; or credit bureaux had reverted to the customer prior to the 20 service days with written feedback that they had credible evidence thus the financial obligation evaluation flag might not be eliminated; and consumer is in belongings of the paid-up letters for each account that formed part of the debt evaluation procedure; debt aid system at the NCR had been upgraded (we would need proof); and consumer is in belongings of the clearance certificate.

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Any counsellor who keeps this crucial financial info should be a warning," said Overbeek. Another vital point to note is that even if you have partnered with a debt counsellor doesn't suggest that you can not contact your creditors straight and ask to see statements. "In  A Good Read , you should, on event, check statements from your creditors to make sure your payments are being distributed by your financial obligation counsellor and are reaching all of your creditors, not just a selection," Overbeek stated.

With 49% of South Africans reporting that they have actually lost their incomes, and one fifth saying their company is retrenching, increasing varieties of customers are trying to find help in handling their financial obligations. And victimizing the vulnerability of customers at this time, scammers are offering "financial obligation services" all over social media.