National Credit Regulator issues new Codes of Conduct for credit providers

Fri, 10 Dec 2010

The National Credit Regulator (NCR) has released new codes of conduct for credit providers in an effort to help indebted South Africans and address bottlenecks in the debt review process. Draft Accreditation Standards for system vendors have been developed to be finalised before the end of 2010, with the first accreditation audits of these systems taking place in January 2011. A Debt Review Advisory Committee (DRAC) has also been established - with members drawn from the industry.

Recovery in Consumer Credit

Thu, 20 May 2010

The National Credit Regulator released its fifth ‘Consumer Credit Report’, which is based on data submitted to it by registered credit providers. This fifth edition covers credit market information from December 2008 up to December 2009.

Employees beware! Debt is an insidious trap

Tue, 18 May 2010

According to data from Statistics South Africa, employment contracted by 1.3% or 171 000 jobs between the fourth quarter of 2009 and the first quarter of 2010. The year on year picture, shows that 833 000 jobs have been lost over the past year.

Be informed and stay afloat!

Fri, 12 Mar 2010

The National Credit Regulator (NCR), as part of promoting public awareness and as part of celebrating World Consumer Rights Month, embarked on a series of activities including road shows, radio programmes, exhibitions and workshops in conjunction with other stakeholders.

The All-in-One Credit Skills Course

Tue, 19 Jan 2010

Compuscan Academy is a skills development & training provider who delivers accredited training services to the corporate industry of South Africa. Our wide variety of workshops & skills programmes can also be customised to meet your business needs.

Number of consumers in good credit standing declines

Wed, 07 Oct 2009

The number of consumers in good credit standing for the quarter ended June 2009 decreased compared to the quarter ended March 2009, according to the National Credit Regulator (NCR). “The percentage of consumers in good standing was 55.9 percent, a decrease of 1.7 percent when compared with the quarter ended March 2009 and a decrease of 4.5 percent when compared with the quarter ended June 2008,” said the NCR.

Women less likely to seek help for debt than men

Wed, 05 Aug 2009

Local research by debt counsellors shows that when evaluating more than 20 000 client files, men were far more likely to go for debt counselling than women. Among those women, Asian women emerged as the least likely to ask for help.

Stepping into debt counselling

Wed, 05 Aug 2009

Debt counselling can be a daunting experience, but a professional counsellor can give you guidance and provide you with the knowledge and courage to take the initiative in solving your money crisis.

Helping hands for those in debt

Wed, 22 Jul 2009

The National Debt Mediation Association is non-profit association designed to deliver free, confidential advice and resources to consumers worried about debt. Its mandate is to: “help and relieve over-indebtedness one person at a time”.

It’s your choice to use credit wisely, advises Credit Regulator

Fri, 19 Jun 2009

"Using credit wisely means being smart and budgeting for the things you really need – not simply buying everything you want right now," says Peter Setou. June and July will see the NCR putting extra emphasis on educating young people on the National Credit Act and the dangers of escalating debt.

Consumers should still spend with caution

Mon, 01 Jun 2009

Tito Mboweni announced a 100 basis point cut in the interest rate following a two-day Monetary Policy Committee meeting. The cut is the fourth in a row, and for the first time in seventeen years, South Africa is now in recession.

Buckle up - the economic ride is rough

Wed, 11 Mar 2009

Consumer watchdog, the National Credit Regulator (NCR) as part of the Consumer Protection Forum which comprises of the Department of Trade and Industry (DTI), nine Provincial Consumer Affairs Directorates, Financial Services Board (FSB), the Council for Medical Aid Schemes, Independent Communications Authority of South Africa (ICASA) and other regulators, has embarked on a campaign to educate consumers about their rights, where to get recourse and what steps to take in order to enforce these rights as part of celebrating consumer rights month during March.

The consumer credit market worth R1.12 trillion

Mon, 02 Mar 2009

The report thus reflects consumer credit, as well as agreements with juristic persons with a turn-over or net assets of less than R1 million. It excludes all other juristic persons.

National Credit Act set down for hearing

Mon, 02 Mar 2009

The National Credit Regulator (NCR) launched an application early last year in the Pretoria High Court for a declaratory order on the interpretation of debt review provisions in the National Credit Act. This application is going to be heard on the 2nd – 5th March 2009.

Credit provider pays the price for contravening National Credit Act

Wed, 25 Feb 2009

Consumer watchdog, the National Credit Regulator (NCR), has taken on a credit provider that flouted provisions of the National Credit Act (NCA) and won.

Slight deterioration in consumer credit records

Thu, 05 Feb 2009

The NCR published its quarterly report on credit bureau statistics. This is based on reports submitted to the NCR by registered credit bureaus, in terms of the National Credit Act. Of the 17.53 million credit-active consumers as at the third quarter of 2008, 59.5% had good credit records.

Times are tough, borrow wisely

Wed, 14 Jan 2009

Given the grim market conditions characterized by galloping inflation and steep interest rates, consumers would do well to wise up when borrowing money.

60% of consumers are in good standing

Sat, 27 Dec 2008

The NCR’s Credit Bureau Monitor reported 17.17 million credit active consumers for the quarter ending June 2008. The Credit Bureau Monitor contains consolidated credit bureau statistics.