Super credit law to your rescue
‘The consumer credit industry in South Africa is worth about R362 billion and provides credit to about 15 million consumers who are largely vulnerable to the exploits of unscrupulous credit providers. Now the government has stepped in with powerful draft legislation to protect consumers.
South African consumers can look forward to a single law that will cover all credit transactions, from buying a fridge to getting a home loan.
The proposed new legislation aims to safeguard you from unfair and deceptive practices in the credit industry and empower you to make informed decisions before you sign on the proverbial dotted line.
It will also introduce mechanisms for coping with too much debt, prohibit the reckless granting of credit, and create a new regulator and dispute resolution body.’
Read more at Super credit law to your rescue
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