Consumer Credit by the numbers – is it getting better?

South African consumers are buckling down and their management of household debt has shown improvement. Starting with collection of outstanding debt, where a clear improvement in consumer behavior is evident. The total number of civil judgments recorded for debt...

The In Duplum Rule – How much do you owe?

In Duplum – How much do you owe? Section 103(5) of the National Credit Act limits the amount that a creditor may recover for a credit agreement, by limiting the collection costs that may be charged if a consumer was to default on a credit agreement. The maximum...

The right to receive a statement of account

Section 108 of The National Credit Act enforces: The right to know how much you owe and how it has been calculated. In respect of a mortgage bond, the credit provider must deliver a periodic statement at least every six months to the consumer. In the case of an...