What is Consumer Credit Law

A consumer is a person that uses credit for personal use. A consumer usually gets credit from the banks or other credit providers. A consumer can get a credit card; personal loan, vehicle finance or even a home loan.

A consumer has many rights afforded to them by the National Credit Act, 34 of 2005. A consumer has rights; such as the right to understand the cost of their credit like interest, administrative charges as well as legal charges. A consumer has rights not to have their assets repossessed if they can afford to pay their monthly instalments even after missing a few payments. A consumer must always read their contracts in order to know their rights.

A consumer can exercise their rights by reading the National Credit Act, 34 of 2005. A consumer can exercise their rights by contacting the National Credit Regulator www.ncr.org.za. A consumer can also contact the Banking Ombudsman if they feel that they are aggrieved and have a problem.

Consumer Credit Law is the home of consumer credit law advise. We have over 15+ years experience in all aspects of Consumer Credit Law. We can assist consumers navigate difficult situations; such as being in arrears with their house or car. Or when a consumer is about to have their house auctioned. When a consumer receives Summons, they can contact Consumer Credit Law and we can gladly give you the best advise and assist. 

Basically Consumer Credit Law can help with any aspect of Consumer Credit Law. We take the pain of stress and anxiety away from your; thus helping you concentrate on what matters such as your family. 

What is a Letter of Demand

A section 129 notice is a formal letter of demand from your creditors. It is the last step before the legal process, in which the creditor will take you to court in order to ensure that you make your payments to them.