Credit providers have often been found at fault in disputes
From fraudulent purchases on customer accounts, accusations of reckless lending to inaccurate handling of credit information – these were some of the 3,643 new disputes Credit Ombud handled last year, according to its recently released annual report.
A credit ombudsman oversees disputes between consumers and credit providers. In 2020, 64% of disputes were settled in favor of consumers, saving them a total of R3.85m. Of the 3,643 disputes filed, only two could not be concluded before the end of the fiscal year. ..