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Filter: Credit Act
Be wary of an ‘instant loan’

15 September 2022

Open any newspaper, check your junkmail or read one of the many unsolicited sms or WhatsApp messages and you will... find an advertisement from a credit provider offering an instant credit loan, some even going so far as to state you are immediately approved. But how legit are these solicitations? 

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251
Article
What legal costs can a creditor charge a debtor to recover outstanding debt?

08 February 2022

When times are tough, you may not get around to paying all your bills. But be warned, if neglected for... too long, it will inevitably lead to letters of demand for payment along with interest, charges and legal fees. As your outstanding obligations grow, you may wonder whether all these costs are allowed? Lets unpack what the law says.

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266
Article
When am I required to register as a credit provider?

03 January 2019

I run a small crafts shop in town. From time to time I allow some of my regular customers to... pay me back over time. It’s usually not big amounts and I only do it to help them because I know times are tough. A friend warned me though that I should be careful as I may be required to register as a credit provider. Is this true?

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178
Article
How to validly extend the period for getting your home loan approved

07 June 2018

I’m trying to buy a house. The purchase agreement is subject to the condition that I obtain a mortgage bond... within 30 days. My time is running out but I’m close to getting the financing approved from my bank. I just need a few more days. Is it possible to extend the 30 day period and if so by when must this be done? I really don’t want to lose this house!

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203
Article

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