Debt Counselling for Financial Relief
The National Credit Act was established in June 2007 and controls all credit agreements entered into before and after that date. It was instituted to protect the rights of consumers from reckless credit providers who knowingly provide credit to persons who are not able to meet the repayment schedule. The Act thus established the National Credit Regulator to monitor the credit agencies and ensure that they are acting in a clear and transparent manner when entering into agreements with consumers. The Act and the Regulator also made provision for people who are already over indebted by providing them with access to the debt review process. The National Credit Regulator is in charge of training and registering any person offering debt counselling through this debt review process.
It is therefore important to ensure that the person supplying you with debt counselling has received the necessary training and is qualified and registered. A debt counsellor who is not registered will not be empowered to act on your behalf in negotiating with your creditors. They will also not be able to have access to your credit records held by the various credit agencies in South Africa. The National Credit Agency who is resposible for redistributing your funds to your various creditors will not acknowledge a payment schedule form an unregistered person.
Make sure that you read the National credit Act and pay careful attention to any sections that relate to you, the consumer. This will ensure that you know what your rights are as far as your debt and debt counselling services are concerned and that you will be able to take full advantage of the benefits that a registered debt counsellor can provide you.
If you would like to find out more about the National Credit Act, the Regulator, the Agency as well as debt counselling Pretoria services, simply contact us and our professional team will give you the best advice.
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