A summary of consumer rights under the National Credit Act (NCA)
A summary of consumer rights under the National Credit Act (NCA) as extracted from the “DIY Credit Repair Toolkit”: Right Description / Key Provision NCA Section / Regulation 1. Right to Apply for Credit Every adult natural person, juristic person, or association has the right to apply for credit. Section 60 2. Right to Reasons […]
What to know when settling an account that is on your credit report
Where you do not dispute any information on your credit record and you want to repair your credit record by remedying any negative listing on it, the first step is to consider whether you are legally obliged to pay the account. Accounts that you are not legally obliged to pay You are not legally obliged […]
Debt and the defence of prescription clarified
The collection of prescribed debt is prohibited. No person may sell a debt under a credit agreement that has been extinguished by prescription under the Prescription Act 68 of 1969. Further, no person may continue the collection of, or re-activate a debt under a credit agreement where the debt has been extinguished by prescription or […]