WHAT IS A CREDIT SCORE In South Africa a credit score is a three digit number that allows various credit providers (companies that offer your credit) to assess your credit worthiness and ability to to pay back your loan. The shortest answer would be simply its a risk factor indicator. If your score is low […]
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In terms of the National Credit Act, 34 of 2005 (s131) when a consumer surrenders the goods, the credit provider must then follow the process set out in Section 127 (2) – (9) in order to realise the value of the goods. Once the goods have been sold, this amount is credited to the consumer’s
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Debt counselling is a debt relief mechanism for over-indebted consumers. A consumer can seek the assistance of debt counselling on his or her own, or he or she might be referred to a debt counsellor by a credit provider, the court or the NCR. The main purpose of debt counselling is to:• Assess a consumer’s
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