DebtBusters logo
DebtBusters green overlay
086 999 0606 Login Call me

Guides

The National Credit Act

Back to National Credit Act

The National Credit Act applies to all credit agreements where:

  • Parties are dealing at arm's length
  • The agreement will be effective in South Africa

It does not apply if:

1. One of the contracting parties is:

  • The State
  • An organ of the State
  • A juristic person:
    • Company/cc/Trust
    • With an asset value or annual turnover in excess of R1 million
    • The credit provider is:
    • The Reserve Bank
    • Located outside of the Republic

2. The credit provider is:

Need debt counselling or consolidation?

Explore DebtBusters' solutions for reducing your interest rates and unlocking cash.

Find out more
  • The Reserve Bank
  • Located outside of the Republic

Credit Life Cycle

The various stages that clients may go though when they require some form of credit:

  1. Desire Credit
  2. Apply for credit
  3. Verification of credit worthiness
  4. Approval/Decline of credit extension
  5. Settlement or default of credit obligations

Share on...

Whatsapp Facebook Twitter LinkedIn Email
Contact Us

5th Floor, 11 Adderley Street,Cape Town, 8001
[email protected]

Operating Hours:

Mon-Thu: 07:00 - 21:00
Fri: 07:00 - 18:00
Sat: 09:00 - 12:30

Call our experts now on 0861 365 910Registered debt counsellor NCRDC2484A member of the National Debt Counsellors Association