GENERAL COLLECTIONS
informative law based articles
NCA S129(1)(a) NOTICE – A PRACTICAL PERSPECTIVE ON THE INTERPRETATIVE CHALLENGE
The National Credit Act 34 of 2005 (NCA) in modern South Africa, has been the focus of many legal cases, mostly dealing with the interpretation of its meaning, one of the largest contributors being the provisions of s 129(1)(a).
By Brett Bentley BA LLB (UKZN) a legal practitioner at Bentley Attorneys in Durban.
Read the full article here: http://www.derebus.org.za/nca-
CASHING IN ON COLLECTIONS
The National Credit Act 34 of 2005 (NCA) aims, as part of its raison d’être, to promote a consistent enforcement framework relating to consumer credit. It provides, in s 3(d), that its purposes include protecting consumers by promoting equity in the credit market by balancing the rights and responsibilities of credit providers and consumers. The Debt Collectors Act 114 of 1998 was enacted for similarly idealistic purposes, in introducing a Council for Debt Collectors and providing for the regulation and control of debt collectors’ activities. Such regulation extends to the recovery of fees and remuneration by registered debt collectors.
By Gerhard Buchner BA LLB (Stell) an attorney at Gerhard Buchner Attorney in Durban and CJ Hartzenberg BCom LLB (UKZN) LLM (Unisa) is an advocate in Pietermaritzburg.
Read the full article here: http://www.derebus.org.za/cashing-in-on-collections/
PROS AND CONS OF NATIONAL CREDIT AMENDMENT BILL EXPLAINED
he National Credit Amendment Bill, signed into law by President Cyril Ramaphosa earlier this week, is not a mechanism to expunge debt for the over-indebted. Rather, it’s an instrument allowing the low-income market access to debt review at no cost.
Once Gazetted, debt intervention will be accessible to a market that doesn’t qualify, or is economically viable, for debt review – those earning less than R7 500 a month with unsecured debts of up to R50 000.
But in a country where households spend almost three-quarter of their available funds on servicing debt, high default rates and disposable income under increasing pressure, the banking sector and opposition parties are warning that the act will make access to credit even more difficult and expensive.
By Georgina Crouth a consumer watchdog with serious bite. Write to her at consumer@inl.co.za, tweet her @georginacrouth and follow her on Facebook.
Read the full article here: https://www.iol.co.za/news/politics/pros-and-cons-of-national-credit-amendment-bill-explained-30906798
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