The question often arises as to whether information can be removed from a bureau after the debt to which that information relates, has been paid in full.

Credit Bureaus are regulated by various laws, codes, policies and constitutions. The Credit Provider Association’s (“CPA”) constitution and the National Credit Act (NCA) specifically deals with the question raised above.

Project Evolution, an apt name for the project which seeks to revolutionise the credit industry and create a unified credit market, officially kicked off in October 2011 and is well on its way towards its envisioned integration at the end of 2014.

MicroFinance South Africa (MFSA) recently conducted research into the behaviours displayed by credit providers and consumers in the lending industry. The research, which provides valuable insight for credit providers, not only identifies current trends and perceptions held by consumers, but also highlights a wealth of opportunities for those in the microfinance arena.