Seminar on being a responsible credit consumer - 28 July 2015

The Responsible Use of Credit-Community Engagement Project from the Banking Law Group in the Department of Mercantile Law recently hosted a seminar to create awareness amongst consumers on certain aspects of the management of their personal credit profiles (Twitter: @ConsumerHints).

Mr Lesiba Mashapa from the National Credit Regulator gave an overview of the National Credit Act and spoke about new developments such as the National Credit Amendment Act and recent cases regarding emolument attachment orders. Mr Des Power from the South African Credit and Risk Reporting Association spoke about building your own credit profile. He addressed several queries from the attendees regarding their current credit profiles. Mr Lee Soobrathi from the Credit Ombud gave an overview of consumer relief measures and addressed several queries related to non-banking credit and credit records. Ms Bridgette Caprin from the Credit Bureau Association spoke about credit information and credit bureaus.

During the breaks and after the seminar attendees had the opportunity to access and query their credit records.

Extracts from the seminar will be broadcasted on Unisa Radio on 3 August 2015 between 11:00 and 12:00 (Twitter handle: #CLAWMondays or follow Unisa Radio on Twitter - @UnisaRadio).

Emolument attachment orders under the court's scrutiny

The Western Cape High Court last ruled last week that emolument attachment orders in Anglo American’s Platinum legal battle against fees for salary deductions und unpaid debt were invalid. Judge Desai  delivered judgment against debt collectors and the way emolument attachment orders were managed. The court also ordered that a firm of attorneys be investigated by the Law Society for breaching its ethical duties for seeking out favourable courts to secure salary attachment orders.

 

In Amplats’ legal battle, the mining company argued that debt collectors and administrators cannot charge what they wish or circumvent the 12.5% cap in terms of the Magistrates’ Court Act by subcontracting their duties.

 

For more information see: http://businessday.newspaperdirect.com/epaper/showarticle.aspx?article=08f7aafa-bd54-46f7-ac0a-8ed91505778c&key=JfPun3%2fC2wte%2bDJ0rYuM4Q%3d%3d&issue=11062015071000000000001001.

 

Responsible Credit Management

 

 

Invitation for the public to comment on the draft regulations on review of limitations of fees and interest rates - National Credit Act

Invitation for the public to comment on the draft regulations on review of limitations of fees and interest rates: https://www.compuscan.co.za/wp-content/PDF/Draft-regulations-limitations-of-fees-and-interest-rates_20150625.pdf

Seminar: Applying for Credit in a Responsible Manner - 28 July 2015

We will be holding a seminar on 28 July 2015 and some of the confirmed speakers include the NCR, Credit Ombud and the Consumer Tribunal. Full details will follow in due course. The general theme for the seminar will be "Applying for Credit in a Responsible Manner". It will  be held on the UNISA Main Campus. 

What role does the National Consumer Tribunal fulfil in today's society?

Role of the National Consumer Tribunal: Online discussion

Listen online to Unisa Radio on 25 May 2015 between 11h00 and 11h30 for a discussion with Adv John Simpson (Member of the National Consumer Tribunal) on the role the National Consumer Tribunal is currently playing and how consumers can make use of the Tribunal.