BUSINESS NEWS - Women are increasingly taking charge of their finances and are more pro-active in sorting out their credit and financial woes.
The recently released annual results of the Office of the Credit Ombud show that 47% of complainants who sought assistance in 2013 were women.
"When compared to previous years, the number of female complainants has steadily been on the rise - an indication that women are increasingly speaking out and taking steps to address their credit related problems," says Credit Ombud Manie van Schalkwyk. Another surprising figure is that young females aged between 18 and 35 years accounted for 38% of the total figure of women who reached out for assistance. It is positive to see that young females are knowledgeable when it comes to reaching out for assistance, but it could also be worrying if too many are already facing debt troubles at a young age.
The most common complaints from women were disputes about their statements of account as well as disputes regarding emolument attachment orders emanating from credit agreements and loans.
The following example is a typical type of complaint that the Office of the Credit Ombud deals with daily. They assisted Kopano Modise (not her real name) who had a judgment taken against her as a result of a fraudulently opened account. Subsequently, a court order also compelled her employer to deduct money from her salary to settle this fraudulent debt. Through the intervention of the Ombud’s office, the fraud was proved and Kopano was refunded R17 980 and the judgement was rescinded at no cost to her.
"It is of utmost importance that consumers scrutinise their accounts, loan and bank statements, their pay slips or any other documents that relate to them paying over any money as this will be a guaranteed way of noting any discrepancies that may occur as a result of fraud or being over-charged," emphasises Van Schalkwyk.
• Always check your statements to make sure that all payments are reflected and keep tabs of your balance
• If you are unable to pay for your accounts for whatever reason talk to your credit provider to make alternative arrangements
• Ensure that you always get all agreements for payment arrangements in writing as you need to use this as proof of your agreement
Consumers can make use of the office of the Credit Ombud’s free services for incorrect or unfair credit bureau listings or any other credit agreement related problems by contacting the office on 0861 66 28 37.
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