The National Credit Regulator is a managing body, established under the National Credit Act 34 of 2005, responsible for the regulation of the credit industry in South Africa. As the guiding force of ethical credit management, it falls onto them to ensure the rules of credit dealing are followed.
It is up to the NCR to carry out education surrounding the Act, as well as research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the National Credit Act. This means that the Regulator must promote the development of an accessible credit market. This puts a key focus on addressing the short falls surrounding the credit of historically disadvantaged individuals, low income areas of the population, as well as remote, isolated communities – seeking to make credit accessible to all who need it.
The responsibility surrounding the registration of credit providers, credit bureaus and debt counselors also falls onto the National Credit Regulator, including ensuring all participants comply with the Act in totality.
This acting council as it were, make sure that the credit industry remains fair and above board, this is the watchful eye that monitors banks and lenders regarding reckless lending, debt repayment and a whole collection of other functions. The advocate for consumer rights within the debt and credit process.
As a compliant participant of this Act, our debt solutions services ensures that all dealings fall within the guidelines, making sure our clients are getting the best possible deals with their debt repayments. Whether legal matters or debt solutions, our professional consultants can advise and direct your efforts.
The National Credit Regulators cater to clients around South Africa, including those in:
Contact National Debt Advisors today to find out more about the National Credit Regulator, or to get some NCR Debt Help.