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The National Credit Regulator

The National Credit Regulator (NCR) is the body established in terms of the National Credit Act, that regulates Credit Providers, Credit Bureaux and Debt Counsellors. It is the duty of the National Credit Regulator (NCR) to regulate and ensure that all the entities registered with it complies with the National Credit Act.

All debt counsellors are required to register with the National Credit Regulator (NCR) before they are allowed to start operations. Credit Providers and Credit Bureaux are also required to register with the National Credit Regulator (NCR), each with their own unique set of registration requirements.

Debtsafe is registered with the National Credit Regulator (NCR) and submits quarterly statistical returns. This also forms part of Debtsafe\’s compliance with it\’s terms of registration with the NCR. It is advisable that every consumer check that a debt counsellor is registered with the NCR before they apply for debt review. The National Credit Regulator (NCR) is also there to look after the consumer\’s rights in terms of the National Credit Act. Should a consumer be aware that his/her rights has been infringed he/she can lodge a complaint with the NCR who will then investigate the matter.

Many consumers applied for debt review with debt counsellors who were not registered with the National Credit Regulator (NCR), and had to suffer the consequences. A debt counsellor who is registered with the National Credit Regulator (NCR) has to comply with a set of registration criteria, the National Credit Act and the applicable fees are regulated by the NCR. The National Credit Regulator (NCR) also implemented a Code of Conduct for all debt counsellors to ensure that service by debt counsellors are of the highest ethical standard.

By complying with all of the above Debtsafe has been able to build a good relationship with the National Credit Regulator (NCR).

 

the National Credit Regulator (NCR) can be contacted at 0860 627 627 or visit www.ncr.org.za

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