Government moots debt forgiveness for consumers

The Department of Trade and Industry has suggested  to Parliament that the National Credit Act should be changed to allow the Minister of Trade and Industry to announce debt relief measures for those who cannot afford to pay their debt . Parliament’s Portfolio...

Early settlement of debt and how to get there

The National Credit Act regulates how accounts can be settled early. To begin with, a consumer would need a settlement amount from the credit provider and the NCA gives the consumer certain rights with regard to this. Section 113 of the National Credit Act: Statement...