Your Rights

Friday, 28 August 2009 11:31

The National Credit Act (NCA) has put rules in place to ensure that consumers are not taken advantage of when applying for credit. Knowing your rights will help you to ensure that the credit provider acts responsibly.

Read more: Your Rights

How to get your credit record

Thursday, 27 August 2009 14:57

On the 1st of September, the new Credit Act came into affect, meaning that you are now able to view your credit rating once a year, free of charge.

What is my credit rating?

It is an electronic file with all your information on how you repay your bank loans, store accounts like your Edgar’s card, credit cards and other debt. All these financial providers send this information to credit bureau’s who in turn share this information with each other. They also get information from the courts about judgements against you from debtors.

Read more: How to get your credit record

NCA: friend or foe?

Thursday, 27 August 2009 14:42

Wed, 05 Aug 2009 07:19

It has been just over two years since the National Credit Act (NCA) came into effect and considering the state of the global and local economies it is a good time to reflect on the NCA’s role in containing the impact of the financial crisis that has brought more developed economies to their knees.

Read more: NCA: friend or foe?

Counselling 'misunderstood'

Thursday, 27 August 2009 14:31

March 12, 2008

By SLINDILE KHANYILE

Durban - Some consumers misunderstood the purpose of debt counselling, perceiving it to be the means to escape their repayment obligations, South Africa's four major banks and the national credit regulator (NCR) said yesterday.

Read more: Counselling 'misunderstood'

SA still in a recession

Thursday, 27 August 2009 14:24

The following article was found on the afrol News website:

19 August - The business community in South Africa have said figures released yesterday by the county’s statistics bureau were a further confirmation that the country was not yet out of the recession situation.

Statistics South Africa announced contraction of South Africa's Gross Domestic Product (GDP) by 3 percent for the second quarter of 2009.

Read more: SA still in a recession