NCA Chapter 4

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

Chapter 4 : Consumer Credit Policy

Chapter 4 of the National Credit Act, consumer credit policy, includes consumer rights, confidentiality, personal information, consumer credit records, credit marketing practices, over indebtedness and reckless credit.

Part A : Consumer Rights

60. Right to apply for credit

61. Protection against discrimination in respect of credit

62. Right to reasons for credit being refused

63. Right to information in official language

64. Right to information in plain and understandable language

65. Right to receive documents

66. Protection of consumer credit rights

Part B : Confidentiality, personal information and consumer credit records

67. Conflicting legislation

68. Right to confidential treatment

69. National register of credit agreements

70. Credit bureau information

71. Removal of record of debt adjustment or judgment

72. Right to access and challenge credit records and information

73. Verification, review and removal of consumer credit information

Part C : Credit marketing practices

74. Negative option marketing and opting out requirements

75. Marketing and sales of credit at home or work

76. Advertising practices

77. Required marketing information

Part D : Over-indebtedness and reckless credit

78. Application and interpretation of this Part

79. Over-indebtedness

80. Reckless credit

81. Prevention of reckless credit

82. Assessment mechanisms and procedures

83. Court may suspend reckless credit agreement

84. Effect of suspension of credit agreement

85. Court may declare and relieve over-indebtedness

86. Application for debt review

87. Magistrate’s Court may re-arrange consumer’s obligations

88. Effect of debt review or re-arrangement order or agreement