DebtSafe FAQ's

Q: What or Who is a Credit Provider?

A: A CREDIT PROVIDER enters into a credit agreement by lending money or offering credit to a consumer. It is of utmost importance that a credit provider must be registered under ‘the Act’ (NCA) and, with the National Credit Regulator (mostly referred to as the NCR).

According to ‘the Act’ (NCA): “in respect of a credit agreement to which this Act applies, means –

a)         The party who supplies goods or services under a discount transaction, incidental credit agreement or instalment agreement;

b)         The party who advances money or credit under a pawn transaction;

c)         The party who extends credit under a credit facility;

d)         The mortgagee under a mortgage agreement;

e)         The lender under a secured loan;

f)          The lessor under a lease;

g)         The party who advances money or credit to another under any other credit agreement; or

h)         Any other person who acquires the rights of a credit provider under a credit agreement after it has been entered into;”