Reckless lending continues in South Africa

Then percentage of consumers with adverse credit bureau listings increased with 48% in the last quarter of 2014.

For a recent report on reckless credit lending in SA and for recent statistics see the following article published by Angelique Arde: http://iolmobile.co.za/#!/article/reckless-lending-continues-unabated-1.1818082

Draft affordability assessment criteria

As part of its plan to curb reckless credit lending the South African Department of Trade and Industry is working on a set of affordability assessment criteria to be published as regulations under the NCA. That is because credit providers must, before granting credit, conduct an affordability assessment.

See the following links for more information on the draft affordability assessment regulations: 

• http://www.sanews.gov.za/south-africa/dti-publishes-draft-affordability-assessment-regulations; 
• https://www.kpmg.com/ZA/en/IssuesAndInsights/ArticlesPublications/Financial-Services/Documents/Draft%20National%20Credit%20Regulations%20for%20Affordability%20Assessment.pdf/. 

Your rights on attached debt

Do you want to know how an emolument attachment order works? Read this explanation published on Moneyweb's website: http://www.moneyweb.co.za/moneyweb-financial/your-rights-on-attached-debt.