The new National Credit Act has managed to establish the National Credit Regulator and has Constituted the Tribunal. Its purpose is mainly to regulate the Consumer credit industry all the Credit Agreement.  Also to avoid the unlawful granting of credit. The Act provides for the Pre Agreement disclosure the credit provides must not enter into an immediate/ large credit unless the credit provider has given the consumer pre-agreement statement, quotation. Consumers are entitled to periodic statement of accounts in terms of section 108 of the Act. 

Any dispute regarding the credit Agreement may be referred to the tribunal for adjudication.  If the consumer is in default the credit provider may draw the default the notice of the consumer in writing and propose that the consumer refer the credit to the debt councilor Alternative Dispute Resolution


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