The National Credit Act
To promote a fair and non-discriminatory marketplace for access to consumer credit and for that purpose to provide for the general regulation of consumer credit and improved standards of consumer information.
The objectives of the NCA
- to prohibit certain unfair credit and credit-marketing practices
- to promote responsible credit granting
- to prohibit reckless credit granting
- to regulate credit information
- to establish national norms and standards relating to consumer credit
- to establish the National Credit Regulator
Know your rights
- The right to apply for credit
- The right to receive information in an official language
- The right to receive information in plain and understandable language
- The right to receive documents
- The right to receive statements
- The right to access and challenge Credit Bureau Records
- The right to confidentiality
- The right to apply for debt counselling