What Does Your Business Credit Profile Say about Your SME? Major South African credit bureau, Experian SA is creating awareness about the importance of regularly checking up on and having a good understanding of one’s business credit...
Category - NDA Blog
Debt Counselling National Credit Act
Debt Counselling National Credit Act Credit vs. Saving In South Africa, the Debt Counselling National Credit Act promotes an efficient, ethical and transparent credit industry, by protecting consumers from the repercussions of...
Can I Apply For Debt Review While Unemployed
Can I Apply For Debt Review While Unemployed In the first quarter of 2017, Stats SA revealed that South Africa’s unemployment rate spiked to a 14-year high of 27.7% since 2003. If all goes according to the National Development Plan (NDP)...
Debt Counselling Online
Debt Counselling Online Keeping your financial affairs in order is far more complicated these days. In the past, you could find a job with a local company for life, enjoy a steady income and get a generous, specified pension upon retiring....
Debt Review Explained
Debt Review Explained The purpose of debt review explained The National Credit Amendment Act (NCA) introduced debt review in 2007 as a professional debt relief process. While under debt review, over-indebted consumers can reduce their credit...
Does a debt review plan work?
Does a debt review plan work? How Does a Debt Review Plan Work? You may have asked yourself: how does a debt review plan work? Simply put, if you’re over-indebted and looking for a sound, veritable way to get prompt, appreciable relief, look...
Rotten to the Core – Inside the Consumer Credit Insurance Industry
Rotten to the Core – Inside the Consumer Credit Insurance Industry Caught Infringing the Act So far, in 2015 alone, the National Credit Regulator (NCR) has referred the following big-name corporate giants to the National Consumer Tribunal...
Debt Counselling Guidelines
Debt Counselling Guidelines The debt counselling guidelines were devised to protect over-indebted consumers from becoming further indebted. A 30% increase in debt review applications, from the end of 2014 to the start of 2015, proves just...
Does a Debt Review Hurt Your Credit?
Does a Debt Review Hurt Your Credit? NDA’s Got Your Back No, debt review won’t hurt your credit. In fact, quite the opposite! During debt review, the credit bureaus can’t list any further negative information under your credit profile. As a...
A Debt Review Program
A Debt Review Program Who Can Enter a Debt Review Program? If you are over-indebted or having financial problems, a debt review program will allow you to rehabilitate your finances, by enabling you to afford your monthly debt repayments,...
Debt Review Agreement
Debt Review Agreement What is a Debt Review Agreement? Before drawing up your debt review agreement, your debt counsellor will assess your financial affairs to determine whether or not you are over-indebted. If you can’t afford to service...
What Does the Landmark Garnishee Judgment Mean for Consumers?
What Does the Landmark Garnishee Judgment Mean for Consumers? A Constitutional Oversight You may have come across the Stellenbosch Legal Aid Clinic’s (LAC) landmark garnishee application and Judge Desai’s widely applauded ensuing judgement....