Managing the National Credit Act

The National Credit Act No 34 of 2005 was passed by Parliament on the 10th of March 2006. It is designed to achieve a system of regulation that will apply to all credit activities, thereby ensuring that all credit providers and credit consumers are treated equally.

Broadly, the Act aims to reduce reckless credit behaviour, both by credit providers and consumers and the level of over-indebtedness in South Africa.

Who should register:
Credit providers (providers of personal loans, HP agreements, credit cards and revolving credit)
Credit Bureaus
Debt Counsellors