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Filter: National Credit Act
When credit agreements get sticky

06 May 2025,  Jonathan Le Riche

Navigating the ins and outs of credit agreements under the National Credit Act can feel like walking through legal quicksand.... One wrong clause or overlooked procedure, and your entire case could come undone. Before enforcing your rights, make sure you’re not stepping into a sticky situation of your own making.

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Do you need to register as a credit provider? Here's when and how

06 May 2025,  Millisanté de WeeShené van Heerden

Thinking of granting credit, even just once? You might be surprised to learn that doing so—even for as little as... R1—could trigger a legal requirement to register as a credit provider. With recent changes lowering the registration threshold to zero, understanding when and how to register is more important than ever. Whether you're a business or an individual, here's what you need to know before issuing credit in South Africa.

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Article
Be wary of an ‘instant loan’

15 September 2022,  Chang-Lin Dirks

Open any newspaper, check your junkmail or read one of the many unsolicited sms or WhatsApp messages and you will... find an advertisement from a credit provider offering an instant credit loan, some even going so far as to state you are immediately approved. But how legit are these solicitations? 

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Article
No more excuses... we know you got that letter of demand

01 April 2021

As always, technology has ensured that there is never a dull moment.With the new and exciting development regarding registered letters... of demand being sent by registered email, consumers can no longer use the excuse that they did not receive their letter of demand.In a ground-breaking judgement, the High Court in Pretoria has very recently accepted the digitally registered delivery of a Section 129 final letter of demand for payment as the basis for granting a default judgment. In the past, consumers received these notices through registered post, with many claiming never to have received it. However this method of correspondence can now be replaced by a letter of demand that's sent and received digitally.As we all know, a letter of demand through registered e-mail or registered SMS is much more difficult to ignore, as it is sent directly to  our cellphone number or e-mail address. This means that it can reach us wherever we are, without us ever having to visit the post office. As the plaintiff argued in this recent case, the digital sending and receipt of a letter demand allows for consumers to get the information that they need to make payment arrangements with the creditor, much quicker - which in turn avoids legal costs and negative credit ratings.In addition, the technology of today allows for an instant electronic certificate and detailed audit report to be issued as evidence that the relevant communication had been sent and delivered by SMS or e-mail – providing exactly the same legal status as traditional registered post.It can even go further to actually show the sender that the recipient actually read the notice. A consumer can therefore not use the excuse anymore that they never received the notice, which will ensure that there are no more unnecessary delays in litigation.

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Blog
Can a bank transfer funds from one account to another without your permission?

11 November 2019,  Dr Candice Reynders

I have two accounts with the same bank. I am in arrears on my home loan payments but will be... receiving money into my savings account. It’s not my money, but money from my sister that I must use to help arrange for her wedding and expenses. I’m just worried that the bank will see the money and then take it to settle my arrears on my home loan. Can they do this?

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Article
Should I get regular statements from my credit provider?

16 October 2019,  Minette Bowen

I hardly ever receive statements from my credit providers. Surely, they should be sending me regular statements so I can... see what I owe them. What does the law say about this?

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