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,…

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…

The effect of Rougier v Nedbank The National Credit Act 34 of 2005 essentially gives a consumer the right to apply to a debt counsellor for debt review if he…

Data-retention periods for credit bureau information The National Credit Act prescribes the maximum periods for which consumer credit information may be recorded on the consumer’s credit record. Regulation 17(1) of…

What to look out for when shopping for credit The noun “credit” is strictly defined in the National Credit Act 34 of 2005 as “a deferral of payment of money…

Property Auctioned for Debt? You have rights to fair treatment! Joe was diagnosed with heart disease and had to reduce his working hours, with the resultant effect that his monthly…

Trapped in administration? Cancel it or write it off! An administration order is granted in terms of the Magistrates’ Court Act 32 of 1944 where the consumers debt is less…

Debt and the defence of prescription clarified The collection of prescribed debt has been is now prohibited. No person may sell a debt under a credit agreement that has been…

Can a Garnishee Order or Emoluments Attachment Order be Set Aside? An emoluments attachment order, or “garnishee” may be amended or rescinded provided the person bringing the application shows a…

Beware! Upfront fees for credit repair are unlawful Credit repair in South Africa has become a formidable industry. Only ten years ago, one needed an attorney to improve one’s credit…

Sequestration some salient points: High Court procedure – more costly Court grants only IF it is in the interests of your creditors – no guarantees: Your assets must cover the…

Dereliction and Relegation of Debt Counsellor’s Duties may prove costly for Debt Counsellors… In December 2016, three people were ordered to pay R180 000.00 in fines for failing to comply…