The National Credit Regulator was formed under the National Credit Act 34 of 2005. As a guiding body of the industry in South Africa, it is responsible for the regulation of the credit industry, amoung other things.
The roles of the NCR as a body include:
- Policy development,
- Registration of industry participants,
- Investigation of complaints,
- Ensuring enforcement of the relevant Act.
This means that the Regulator must accommodate the development of an accessible credit industry, particularly to address the lack of availability surrounding the credit of historically disadvantaged peoples, low income areas of the population, as well as far removed communities.
The responsibilities surrounding the registration of credit providers, credit bureaus and debt counselors also comes onto the National Credit Regulator, including ensuring all members fully adopt the Act.
As a department that ensures all dealings with credit remain fair and in line with legislation, this is the ever watchful body that monitors credit lenders for reckless lending, debt repayment and a whole host of other debt functions. The protector of consumer rights within this expansive industry.
As a compliant participant of Credit Act 34, our debt solutions services ensure that all dealings are in line with the legal guidelines, making sure our clients are getting the best possible deals with their debt management or consolidation loan. Whether legal matters or debt solutions, our professional consultants can advise and direct your efforts. Ensure you deal with NCR debt counsellors and registered credit providers.
The NCR operate across South Africa, including:
We will be able to offer advice on the suitability of debt consolidation to your specific financial situation, as there are instances where it would prove unsuitable. Our consultants will be able to help you with regards to secured and unsecured debt consolidation, and advice as to which would be most favorable to your outstanding debts. Operating on a national basis, we can also provide you with debt counseling or a debt review in South Africa. As mentioned, debt consolidation could save you on monthly payments and interest rates, which has made it a viable option for many. To find out if debt consolidation in South Africa is an option for you, contact Quick Consolidation Loans today.