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Credit & Investment Ombudsman excludes two credit repair companies

Thursday, February 19, 2015 - Posted by Philip Harvey

In February, the Credit and Investments Ombudsman (CIO, previously COSL) decided to take steps to no longer deal with two well-known credit repair companies as nominated 3rd party representatives. These companies will no longer be able to discuss complaints with CIO or lodge new complaints on behalf of consumers.

This was a result of a review that found these two organisations had commenced numerous complaints that:

  • Were not in the consumers best interests;
  • Obstructed and delayed the process; and
  • Made unreasonable decisions on consumers behalf.

CIO have advised all affected consumers to contact them directly.

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