National Credit Act


The National Credit Act, 34 of 2005, came into full effect on 1 June 2007 to regulate the way in which credit providers grant credit and protect the interest of our valued clients.

The Aim of the NCA is further to:

* Enforce the consumer to disclose the total cost of credit
* Control the costs of credit
* Educate consumers and provide awareness relating to credit
* Provide guidance to consumers in financial distress via a controlled system of debt restructuring
* Reduce the granting of reckless credit
* Provide guidance to consumers to prevent them from over-indebtedness
* Regulate the information in respect of the consumer credit held by the different credit bureaux
* Present more information to the consumer prior to entering into a credit agreement
* Maintain a fair, non-discriminatory credit market

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