by VDT Attorneys | Jun 2, 2025 | Credit Act, Credit agreements, National Credit Act
Here are some examples: Some parties attempt to conclude ‘friendly’ loans with interest, which are concluded as informal loans between individuals, where interest is charged but the lender is not registered with the National Credit Regulator (“NCR”). From a corporate...
by VDT Attorneys | May 6, 2025 | Credit agreements, National Credit Act
When dealing with credit agreements and the National Credit Act 34 of 2005 (NCA), what should litigants look out for when seeking to enforce their rights under a credit agreement?The case in focus The SCA recently handed down a judgment concerning this type of...
by VDT Attorneys | May 6, 2025 | Credit provider, National Credit Act, Register as credit provider
The National Credit Act 34 of 2005 (“Act”) was enacted to promote responsible credit granting in South Africa. In terms of section 40(1) read with section 42(1) of the Act, a person will have to register as a credit provider with the National Credit Regulator (NCR) if...
by VDT Attorneys | Jun 19, 2024 | Agreement, National Credit Act
To determine if the NCA is applicable to a specific transaction or agreement, one must first consider if the consumer involved in the transaction falls under the definition contained in section 4 of the Act. Thereafter one will consider if the specific agreement is a...
by VDT Attorneys | Sep 15, 2022 | Credit, Credit Act, Credit assessment, Instant loans, National Credit Act, NCA
Many consumers are in need of a quick financial injection and the lure of these unsolicited requests to get a quick and ‘hassle free’ loan without lots of paperwork can seem quite appealing. Generally though, caution should be your first instinct as these...
by VDT Attorneys | Apr 14, 2020 | National Credit Act
Even though it is a progressive act with noble intentions, the National Credit Act at times reads like a disjointed fairy tale. The learned judge Lewis aptly remarked in Absa Technology Finance Solutions (Pty) Ltd v Michael’s Bid A House CC and Another 2013 (3) SA 426...
