The National Credit Regulator was established under the National Credit Act 34 of 2005. As a managing body in a sense, it is responsible for the regulation of the credit industry in South Africa.
It is up to the NCR to carry out education, research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the relevant Act. This means that the Regulator must promote the development of an accessible credit market, particularly to address the short falls surrounding the credit of historically disadvantaged individuals, low income areas of the population, as well as remote, isolated communities.
The responsibility surrounding the registration of credit providers, credit bureaus and debt counselors also falls onto the National Credit Regulator, including ensuring all participants comply with the Act in totality.
As a body ensuring that all dealings with credit remain fair and above board, this is the watchful eye that monitors banks and credit lenders regarding reckless lending, debt repayment and a whole host of other debt functions.
As a compliant participant of this Act, our Reckless Lending services ensures that all dealings are within the guidelines, making sure our clients are getting the best possible deals with their debt repayments and management. Whether legal matters or debt solutions, our professional consultants can advise and direct your efforts. Running alongside the Consumer Protection Act, this ensures that consumers are aware of and know how to handle dealings within the credit market.
Contact us today to find out more about the National Credit Regulator, or to get some NCR Debt Help.
We offer NCR related services across South Africa, including:
- Cape Town
- Johannesburg
- Bloemfontein
- Pretoria
- Midrand
- Sandton
- Port Elizabeth
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