ARTICLES and knowledge resources
Articles about Consumer Law, Credit Law and Insolvency Law
What to Look Out for When Shopping for Credit Understanding Credit Under the National Credit Act The noun “credit” is strictly defined in…
Where you do not dispute any information on your credit record and you want to repair your credit record by remedying any negative…
An administration order is granted in terms of the Magistrates’ Court Act 32 of 1944 where the consumers debt is less than R50…
(as extracted from Nicky Campbell’s Chapter 6, “The consumer’s rights and credit provider’s obligations”, in The Guide to the National Credit Act by…
The National Credit Act 34 of 2005 essentially gives a consumer the right to apply to a debt counsellor for debt review if…
Sequestration some salient points: Administration, some salient points: Debt Review, some salient points: • High Court procedure – more costly• Court grants only…
Individuals facing insurmountable debt have legal options to relieve their financial burden, with sequestration and bankruptcy among the most notable. Understanding these processes…
Joe was diagnosed with heart disease and had to reduce his working hours, with the resultant effect that his monthly income decreased. As…
The National Credit Act regulates how accounts can be settled early. To begin with, a consumer would need a settlement amount from the…
In December 2016, three people were ordered to pay R180 000.00 in fines for failing to comply with debt counselling regulations. The fines…
The collection of prescribed debt is prohibited. No person may sell a debt under a credit agreement that has been extinguished by prescription…
Data-retention periods for credit bureau information The National Credit Act prescribes the maximum periods for which consumer credit information may be recorded on…
An emoluments attachment order, or “garnishee” may be amended or rescinded provided the person bringing the application shows a valid reason for doing…
Credit repair in South Africa has become a formidable industry. Only ten years ago, one needed an attorney to improve one’s credit record.…