How much debt do you have?
With the likelihood of a massive petrol price hike in April, how much longer can South Africans keep stretching their budgets before reaching breaking point? Earlier this month, the SA Human Rights Commission (SAHRC) noted that, of 19 million credit-active consumers in South Africa, 50% had impaired credit records three months or more in arrears. […]
Amendments to the National Credit Act
Amendments to the National Credit Act (NCA), gazetted on Friday (13 March), will make it impossible for ‘unscrupulous’ debt collectors to collect debt that has expired. The changes to the act will mean that if a consumer had not acknowledged a debt for more than three consecutive years either verbally or in writing the debt […]
Debt collectors set to lose with the newly amended National Credit Act
Amendments to the National Credit (NCA), gazetted on Friday, will make it impossible for unscrupulous debt collectors to collect debt that had prescribed (expired) The changes to the act will mean that if a consumer had not acknowledged a debt for more than three consecutive years either verbally or in writing the debt was considered […]
Debt prescription claims & the Credit Amendment Act
Amendments to the National Credit Act (NCA), gazetted on Friday 13 March 2015, will make it impossible for unscrupulous debt collectors to collect debt that has prescribed (expired). The changes to the act means that if a consumer had not acknowledged a debt for more than three consecutive years, either verbally or in writing, the […]
Debt prescription claims will reduce
The changes to the act means that if a consumer had not acknowledged a debt for more than three consecutive years, either verbally or in writing, the debt is considered prescribed and has effectively lapsed. Neil Roets, CEO of debt management company Debt Rescue said consumers should note that if they have made any payments […]
Legislation will stop unscrupulous debt collectors
AMENDMENTS to the Na¬tional Credit Act (NCA), gazetted on Friday, will make it impossible for unscrupulous debt collectors to collect debt that had prescribed (expired). The changes to the act will mean that if a consumer had not acknowledged a debt for more than three consecutive years either verbally or in writ¬ing, the debt was […]