National Credit Act, 2005 (Act No. 34 of 2005)

Chapter 5 : Consumer Credit Agreements

Part D : Statements of account

107. Limited application of this Part

1)        This Part does not apply in respect of a credit guarantee, until the time that the credit provider first calls on the guarantor to satisfy an obligation in respect of that guarantee.


2)        Sections 108, 109 and 110 do not apply in respect of-

a)        a pawn transaction; or

b)        a discounted transaction or an incidental credit agreement, until the time that interest is first charged on the principal debt owed to the credit provider.


3)        In the case of joint consumers or guarantors, a statement required under this section need only be given to one of them, but a joint consumer or guarantor who does not receive such statement may require the credit provider to deliver a duplicate of that statement without charge.


4)        Sections 108 to 114 do not apply to a developmental credit agreement to the extent that-

a)        the National Credit Regulator has pre-approved the form of all documents and the procedures to be used by the credit provider for such credit agreements in terms of this Part; and

b)        the credit provider has used only those pre-approved forms and followed those pre-approved procedures in dealing with the particular consumer.


5)        When pre-approving any form of documents or procedures as contemplated in subsection (4), the National Credit Regulator must balance the need for efficiency of the credit provider with the principles of this Part.

108. Statement of account

1)        A credit provider must offer to deliver to each consumer periodic statements of account in accordance with this section.


2)        The maximum period between issuing statements of account is-

a)        one month, except as otherwise provided for in this subsection;

b)        two months, in respect of an instalment agreement, lease or secured loan; or

c)        six months in respect of a mortgage agreement.


3)        Despite subsection (2)-

a)        a consumer and credit provider may agree to reduce the frequency of statements of account referred to in subsection (2)(a) or (b), but no such agreement may provide for more than three months between delivery of successive statements of account; and

b)        a statement of account need not be delivered in respect of a credit facility if no amount has been debited or credited to the account during the statement period.

109. Form and content of statement of account

1)        The opening balance shown in each successive statement of account must be the same as the closing balance shown in the immediately preceding statement of account.


2)        A statement of account in respect of a small credit agreement must be in the prescribed form.


3)        A statement of account in respect of an intermediate or large agreement may be in-

a)        the prescribed form, if any, for the category or type of credit agreement concerned; or

b)        a form determined by the credit provider, and which complies with any prescribed requirements for the category or type of credit agreement concerned.


4)        The National Credit Regulator may publish guidelines for methods of assessing whether a statement satisfies any prescribed requirements contemplated in subsection (3).

110. Statement of amount owing and related matters

1)        At the request of a consumer, a credit provider must deliver without charge to the consumer a statement of all or any of the following-

a)        the current balance of the consumer’s account;

b)        any amounts credited or debited during a period specified in the request;

c)        any amounts currently overdue and when each such amount became due; and

d)        any amount currently payable and the date it became due.


2)        A statement requested in terms of subsection (1) must be delivered-

a)        within 10 business days, if all the requested information relates to a period of one year or less before the request was made; or

b)        within 20 business days, if any of the requested information relates to a period of more than one year before the request was made.


3)        A statement under this section may be delivered -

a)        orally, in person or by telephone; or

b)        in writing, either to the consumer in person or by sms, mail, fax, email or other electronic form of communication, to the extent that the credit provider is equipped to offer such facilities,

as directed by the consumer when making the request.


4)        A credit provider is not required to provide-

a)        a further written statement under this section if it has, within the three months before the request is given, given such a statement to the person requesting it;


b)        information in a statement under this section more than three years after the account was closed.


5)        On application by a credit provider, the Tribunal may make an order limiting the credit provider’s obligations to a consumer in terms of this section if the Tribunal is satisfied that the consumer’s requests are frivolous or vexatious.

111. Disputed entries in accounts

1)        A consumer may dispute all or part of any particular credit or debit entered under a credit agreement, by delivering a written notice to the credit provider.


2)        A credit provider who receives a notice of dispute in terms of subsection (1)-

a)        must give the consumer a written notice either-

i)          explaining the entry in reasonable detail; or

ii)         confirming that the statement was in error either in whole or in part, and setting out the revised entry; and

b)        must not begin enforcement proceedings on the basis of a default arising from the disputed entry-

i)          until the credit provider has complied with paragraph (a); or

ii)         at any time that the matter is under alternative dispute resolution procedures, or before the Tribunal in terms of section 115.

112. Dating and adjustment of debits and credits in accounts

1)        A debit to a consumer’s account takes effect as of the date on which the consumer incurred that debit.


2)        A credit to a consumer’s account takes effect on the date the consumer makes a payment to the credit provider, or otherwise earns the right to have the account credited.


3)        A credit provider may subsequently adjust debits or credits to a consumer’s account, and the account balances, so as to accurately reflect the legal obligations of the consumer and the credit provider.

113. Statement of settlement amount

1)        At the request of a consumer or guarantor, a credit provider must deliver without charge to the consumer a statement of the amount required to settle a credit agreement, as calculated in accordance with section 125, as of a date specified in the request.


2)        A statement requested in terms of subsection (1)-

a)        must be delivered within five business days;

b)        may be delivered-

i)          orally, in person or by telephone; or

ii)         in writing, either to the consumer in person or by sms, mail, fax or email or other electronic form of communication, to the extent that the credit provider is equipped to offer such facilities,

as directed by the consumer when making the request; and

c)        is binding for a period of five business days after delivery, subject to subsection (3).


3)        A statement delivered in respect of a credit facility is not binding to the extent of any credits to that account, or charges made to that account by or on behalf of the consumer, after the date on which the statement was prepared.


4)        On application by a credit provider, the Tribunal may make an order limiting the credit provider’s obligations to a consumer in terms of this section if the Tribunal is satisfied that the consumer’s requests are frivolous or vexatious.

114. Tribunal may order statement to be provided

If a statement is not offered or delivered within the time required by this Part, the Tribunal, on application by the consumer, may-

a)        order the credit provider to provide the statement; or

b)        determine the amounts in relation to which the statement was sought.

115. Disputes concerning statements

1)        A consumer who has unsuccessfully attempted to resolve a disputed entry directly with the credit provider in terms of section 111, and through alternative dispute resolution under Part A of Chapter 7, may apply to the Tribunal to resolve-

a)        a disputed entry shown on a statement of account; or

b)        a dispute concerning a statement of the settlement amount.


2)        If the Tribunal is satisfied that an entry, or the settlement amount, as shown on a statement is in error, the Tribunal may determine the matters in dispute and may make any appropriate order to correct the statement that gave rise to the dispute.

Debt Counsellors

Marsia Kuypers

Tel: 082 396 2568

Fax: 086 556 3328

Area: Pretoria

Jan-Viljoen Coetzee

Tel: 084 549 1755

Fax: 086 621 9193

Area: Nina Park

Valerie Nakale

Tel: 018 381 8768

Fax: 018 381 8604

Area: Mafikeng

Dean Morris

Tel: 083 645 4094

Fax: 031 763 4363

Area: La Lucia

Joana Vivier

Tel: 053 832 6229

Fax: 086 543 4640

Area: Kimberley

Jacques Jooste

Tel: 011 794 7555

Fax: 011 794 9965

Area: Johannesburg

Marlene Stein

Tel: 012 667 4177

Fax: 086 527 2203

Area: Irene

Heidi Naude

Tel: 044 873 0281

Fax: 086 512 5012

Area: George

Herbert Theron

Tel: 011 472 0088

Fax: 086 655 6730

Area: Florida

Isabe Landman

Tel: 041 933 1189

Fax: 086 591 2676

Area: Despatch

Andiswa Tinto

Tel: 021 431 9134

Fax: 086 523 7084

Area: Cape Town

Jaco Janse Van Rensburg

Tel: 082 568 4969

Fax: 086 645 0389

Area: Barberton

Monique Snyders

Tel: 032 946 3024

Fax: 086 588 4605

Area: Ballito

Christopher Beukes

Tel: 084 2577599

Fax: 021 637 5023

Area: Athlone

Lydia Kinnear

Tel: 082 824 6338

Fax: 086 537 5976

Area: Annlin

Anlizette Schuurman

Tel: 031 903 3840

Fax: 031 701 5570

Area: Amanzimtoti

Kelebogile Mooketsi

Tel: 082 299 3430

Fax: 086 695 3280

Area: Amandasig

Annerie Marais

Tel: 083 703 0486

Fax: 045 838 6572

Area: Aliwall North

Rerandzo Mokgwatlheng

Tel: 082 430 6329

Fax: 011 805 8348

Area: Alexandra Township

Daniel Lezar

Tel: 011 907 1022

Fax: 011 907 1490

Area: Alberton