This month, DebtSafe is focusing on raising consumer rights awareness. <\/p>\n\n\n\n
Every year Consumer Rights Day is observed and celebrated on 15 March. And, it seems only appropriate to remind you and your fellow South African consumers that you have rights when it comes to taking out credit and that you can<\/i> reclaim control of your finances when you experience over-indebtedness. <\/p>\n\n\n\n
It is critical to understand and actively exercise your various rights and responsibilities under the National Credit Act (NCA). <\/p>\n\n\n\n
\u201cAn educated consumer is a protected consumer,\u201d Carla Oberholzer, a debt adviser at DebtSafe, highlights. <\/p>\n\n\n\n
\u201cThrough \u2018credit education\u2019, you will allow yourself the confidence to know what to look out for when applying for credit and what recommended solution you have when you suffer a \u2018debt overload\u2019.\u201d <\/p>\n\n\n\n
She further encourages you to become familiar with the law, the National Credit Regulator\u2019s (NCR) role, and what your vital consumer rights entail. <\/p>\n\n\n\n
\n The National Credit Act<\/span>\n<\/p>\n\n\n\n The NCA (also referred to as \u201cthe Act\u2019) became fully operational on 1 June 2007. The Act aims to provide improved consumer information standards and attempts to promote a fair and non-discriminatory platform for consumer credit while ensuring the process is regulated. <\/p>\n\n\n\n The National Credit Regulator <\/p>\n\n\n\n The NCR was established by Act No 34 of 2005 and functions as the \u201cwatchdog\u201d of the credit industry in South Africa. <\/p>\n\n\n\n The regulator enforces credit bureaus, credit providers, and debt counsellors (for example) to comply with the Act.<\/p>\n\n\n\n The NCR ensures the development of an accessible credit market \u2013 mainly involving underprivileged persons, low-income individuals, and isolated communities. <\/p>\n\n\n\n And, the body also prides itself in promoting consumer rights through various awareness campaigns during March each year. <\/p>\n\n\n\n Your crucial consumer rights include (note \u2013 but are not limited to) the following: .<\/span> You have the right<\/i> to apply for credit..<\/span> You have the right<\/i> to disclosure of information (receive a quote, for example) before signing a credit agreement. .<\/span> You have the right<\/i> to receive information in plain and understandable language..<\/span> You have the right<\/i> to the confidential treatment of your personal information..<\/span> You have the right<\/i> to access your credit report (for free, once a year) at any registered credit bureau..<\/span> You have the right<\/i> to challenge \/ dispute any incorrect information at a registered credit bureau..<\/span> You have the right<\/i> to apply for a legal, recommended service and process called Debt Review (when you can\u2019t make ends meet and keep up with your debt payments).<\/p>\n\n\n\n March is the perfect awareness month to familiarise yourself with your various rights and implement them when applying for credit or dealing with excessive debt. <\/p>\n\n\n\n You must get the help you need from registered professionals if you find yourself over-indebted. It is indeed one of your most important consumer rights, after all.<\/p>\n\n\n\n * About DebtSafe: DebtSafe is a regulated debt counselling firm\/company with registered debt counsellors. The DebtSafe team has assisted more than 35 thousand over-indebted South Africans these past 12+ years to fix and manage their debt via its innovative debt review process. <\/i><\/p>\n","protected":false},"excerpt":{"rendered":" This month, DebtSafe is focusing on raising consumer rights 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