Predatory lending and safeguards in the National Credit Act
Our director Matthew Thomson recently spoke with business and finance journalist Fiona Zerbst of JustMoney on the subject of predatory lending and the safeguards of the National Credit Act. JustMoney’s article is available at: https://www.justmoney.co.za/articles/how-to-identify-predatory-lenders/ and below: How to identify predatory lenders Disreputable, or predatory, lenders can trap you in an unsustainable debt cycle. We more...
Credit providers – Do not forget to comply with Section 129 of the NCA
Before a credit provider takes any action against a consumer that is in arrears, a credit provider must ensure that it has satisfied the provisions of section 129, section 130 and section 168 (which deals with the serving of documents) of the National Credit Act, 2005 (“NCA”). In doing this, a credit provider must provide more...
Am I required to register as a Credit Provider? Recent Changes to the National Credit Act and Regulations
The National Credit Act requires certain categories of money lenders to register as Credit Providers in terms of the Act. The Act is, however, applicable to all Credit Providers, even those who are exempt from registration (this category has, in light of recent amendments, been drastically narrowed). Who needs to register? The effect of more...