
Law failing consumers drowning in debt http://www.assistdebt.co.za The National Credit Regulator (NCR) needs more muscle to deal with rampant reckless lending, the Department of Trade and Industry (DTI) says. It needs the power to carry out “proactive” investigations, impose fines on reckless lenders and order compensation for consumers. So the DTI has proposed amending the National Credit Act (NCA) accordingly. As it stands, the Act prohibits reckless lending and makes it the job of a debt counsellor to check whether […]
Tags: consumers, credit provider, debt, debt counsellor, national consumer tribunal, national credit act, over-indebted consumer, reckless lending