FAQs

In terms of Section 70 of the National Credit Act (NCA), a credit bureau is an entity that collects, compiles and reports consumer credit information, filed from any credit provider, for the purposes ...

The National Credit Regulator (NCR) is an independent regulatory body that was established by the National Credit Act (NCA) 34 of 2005 to protect South African consumers. The NCR manages disputes,...

The National Credit Act ('NCA'), 34 of 2005 was introduced by the government of South Africa to better regulate the credit industry and protect consumers from unscrupulous lenders. The National...

A Section 129 notice is the last step before your credit provider takes legal action against you. Under no circumstances should you ignore important letters like a Section 129 notice. Why is It...

Your credit score and credit report are very important parts of your financial wellness. Credit providers use credit scores and the credit report to decide whether to advance any credit to you...

Debt review, also called debt counselling, is a financial lifeline for many individuals who find themselves struggling to service their debt and make ends meet. It's a structured and regulated...

You can apply for debt review if you are unemployed, but unfortunately you cannot apply for debt review if you have no income at all. The National Credit Act (NCA) specifies that, for a consumer ...

If you are unemployed but married in Community of Property (CoP), you could still qualify for debt review, but there are several considerations to take into account. Your Application is Treated as a...

To best prepare yourself for debt review, you should collect the following information before reaching out to a debt counsellor: Your ID or Passport: Your debt counsellor will need your ID or...

It's important to realise that debt review is a journey and takes 3-5 years to successfully complete, depending on your individual circumstances. The maximum time that it can take is five years. What ...

When you are under debt review and come into some money, and you want to pay off your debt, there are no penalties for early settlement. In fact, it's quite the opposite. The consumer under debt...

Losing your job is always scary and stressful. It can drastically change your financial situation and make it challenging to keep up with debt repayments. It can also jeopardise your debt review ...