by VDT Attorneys | Nov 9, 2016 | Credit Act, Property
The two primary pieces of legislation that should be considered in your situation are: 1. The Alienation of Land Act2. The National Credit Act The Alienation of Land Act regulates the requirements for the sale of immovable property where the purchaser agrees to pay...
by VDT Attorneys | Aug 11, 2016 | Credit Act
Your friend is correct in principle, although there are certain exclusions. The Department of Trade and Industry on 11 May 2016 published a notice determining that the threshold for registering as a credit provider with the National Credit Regulator (NCR) is now R0,...
by VDT Attorneys | Aug 11, 2016 | Credit Act
Your friend is correct in principle, although there are certain exclusions. The Department of Trade and Industry on 11 May 2016 published a notice determining that the threshold for registering as a credit provider with the National Credit Regulator (NCR) is now R0,...
by VDT Attorneys | May 9, 2016 | Credit Act, Debt
As a consumer you have certain rights provided by the National Credit Act (“NCA”) which do not fall away when you default on your credit agreement. Section 129 of the NCA determines some of these rights by obliging credit providers to provide written notice to a...
by VDT Attorneys | Dec 14, 2015 | Collections, Credit Act, Debt
Being listed as a ‘slow payer’ is not a new term or new form of blacklisting. Being listed as a slow payer was already possible under the Consumer Affairs (Unfair Business Practices) Act 71 of 1988 where you could be listed as a slow payer with the credit bureau if...
by VDT Attorneys | May 7, 2015 | Credit Act
The NCA previously required a credit provider to take reasonable steps to ascertain the affordability of a loan to an applicant. The NCA however omitted to clarify exactly what steps shall be deemed sufficient in order to qualify as reasonable. The NCA was also vague...
