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The Latest Debtfree DIGI

Friday, March 18, 2011

Latest Credit Bureau Report information

As at the end of December 2010, credit bureaus had records for 18.51 million credit-active consumers:


• Of the 18.51 million credit-active consumers, 53.5% (9.90m) were classified as in good standing.

Congratulations all of you.

However....

• The number of consumers with impaired records increased to 8.61m this reporting quarter.This indicates a deterioration in the credit records of 120 000 consumers

• The number of credit reports issued to consumers increased to 79,635. Of the total credit reports issued,82.9% (66,034) were issued without charge, and the remaining 17.1%(13,601) were issued with charge. So it seems consumers are taking advantage of the opportunity to check their records in the month of their birth for free.

• There were 14,836 disputes lodged on information held on consumer credit records for the quarter ended December 2010, which was a decrease of 34.3% quarter-on quarter and an increase of 40.3% year-on-year. However good news is that the percentage of these disputes that were resolved in the favour of the consumer is very high.

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