Credit Amendments Assist Consumers
According to the Department of Trade and Industry, amendments to the National Credit Bill have been signed into law by the President which will in effect assist consumers struggling with debt.
The new amendments are according to Wikus Olivier, debt management expert at DebtSafe, consumer orientated. Placing the consumer in a favourable position to address their debt problems.
Areas that are influenced by the amendments to the National Credit Bill include; section 129 notices, affordability assessments, how the National Credit Regulator (NCR) combats reckless lenders, prescribed debt and Alternative Dispute Resolution Agents (ADR).
In this Business Brief article Wikus discusses how the credit amendments assist consumers and help those who are over-indebted.