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					Media release

                 Be in control - access your credit report from registered
                 credit bureaux
                 For Immediate Release                                               September 2011

                 The National Credit Regulator (NCR) will embark on a campaign to educate and
                 inform consumers about credit bureaus and all that they need to know about
                 credit bureau information. The campaign will start this month.

                 Darrell Beghin, Credit Information and Research Manager at the NCR says “a
                 credit bureau is an institution with characteristics of a library. It operates like a
                 library of personal credit information in that it stores the history of your credit
                 behaviour and is referenced by various parties for that history”.

                 “Every person who has an account, anywhere in the country with a credit or
                 service provider who make use of credit bureau services, will find the informa-
                 tion about the account is recorded with a credit bureau irrespective of whether
                 that person pays their account regularly, or not. The purpose of listing the infor-
                 mation collectively at the credit bureaus is to create a comprehensive view of
                 the consumer for both prospective and existing credit and service suppliers to
                 assist them in the evaluation of credit or account applications and also to assist
                 in the management of their relationship with their customers ”, explains Beghin.

                 This is in line with the National Credit Act (NCA) because before credit providers
                 extend credit to consumers, they are required to conduct an affordability assess-
                 ment, by assessing the consumer’s current level of debt obligation and credit
                 worthiness, through gaining insight into the debt repayment history of the
                 credit applicant, and the current extent of credit and financial obligations, com-
                 bined with a review of the income of that person. Income information is not
                 typically stored at the bureaus and as a result, the credit applicant will need to
                 supply the prospective credit provider with proof of income.

                 Beghin says consumers are entitled to get a free credit report once a year from
                 any of the eleven registered credit bureaux. “In excess of the one free credit
                 report, a further credit report will cost you no more than R25.00”, she advises.
                 She recommends that you should obtain your credit record from more than one
                 credit bureau as different credit bureaus may contain different information
                 about you and it is wise to have a comprehensive understanding of the informa-
                 tion available about you.                        Page 1 of 2                            0860 NCR NCR / 0860 627 627
                 Your credit profile will also help you to understand where you are financially
                 in terms of affording your existing and possibly more credit,” adds Beghin“ It
                 is in your interest as a consumer to ensure that your credit information
                 reflected at the credit bureaux is correct. If, after accessing your credit
                 report, you feel that there is information that is not supposed to be on your
                 credit record or which is incorrect it is your right to dispute such information
                 by lodging a complaint with the respective credit bureau.

                 Beghin urges consumers to actively manage their credit profiles. “You are
                 more able to control your credit experiences if you are aware of your credit
                 report and its contents. This will enable you to understand the likely inter-
                 pretations and conclusions which credit providers could draw from your
                 record. By doing this, your credit bureau report will not come as a shock
                 when you apply for credit or are denied credit”.

                 The National Credit Regulator urges consumers to access their own credit
                 reports from the eleven registered credit bureaux as we believe that an
                 informed consumer is a protected consumer, concludes Beghin.

                 Details of the registered credit bureaux are available on the NCR website,
        or alternatively contact the National Credit Regulator’s call
                 centre at 0860 627 627 for assistance.


                 ISSUED BY: Leana Lucouw
                 Bullion PR & Communication
                 Tel: (011) 803 3615
                 Cell: 083 386 0839

                 ON BEHALF OF: Lebogang Selibi
                 The National Credit Regulator
                 Tel: (011) 554 2722
                 Website:                       Page 2 of 2                             0860 NCR NCR / 0860 627 627

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