Prescription was introduced as means of protecting South African consumers from unscrupulous credit providers, who are accountable for recklessly lending credit and have contributed to the detrimental debt crisis South Africa currently faces. Prescription in South Africa can be better understood by reading the following.South African consumers have the two defences, induplum and prescription, against … Read moreWhat is prescription or prescribed debt?
The National Credit Regulator (NCR) The National Credit Regulator (NCR) was established as the regulator under the National Credit Act No. 34 of 2005 (The Act) and is responsible for the regulation of the South African credit industry. It is tasked with carrying out education, research, policy development, registration of industry participants, investigation of complaints, … Read moreNational Credit Regulator
Debt Review Definition What is Debt Review? Debt Review Definition or Debt Counselling is one of the debt relief measures available in South Africa and provided for in the National Credit Act 34 of 2005. This process is intended to assist over-indebted consumers who are struggling with their debt.This is done through budget advice and … Read moreDebt Review Definition