The National Credit Act (Act No. 34 of 2005) came into being to:
“to provide for debt re-organisation in cases of over-indebtedness; to regulate credit information; to provide for registration of credit bureaux, credit providers and debt counselling services”
Excerpt from the title of the Act.
This Act created and regulates the debt counselling industry and sets out the framework within which credit providers and debt counsellors can legally operate, it provides significant protection to responsible consumers who have found themselves in a situation of over indebtedness. Its purpose is to help you so why not use it to your advantage.
To download the full act click here,