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National Credit Act

Individuals: R 517.50 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Yvonne Rossouw


Overview:

Although the Amendment Act of 2019 is not effective yet, one can find quite a large amount of fake news regarding debt relief on social media. But what is it really? How does it work, and what is the impact of the amended National Credit Act on credit providers and consumers? These questions have no easy answers, and with COVID-19 impacting on the liquidity and cashflows of consumers and companies alike, the protection afforded by the NCA becomes very relevant and very real. Join us on this session as we navigate the amended Act in detail and discuss the requirements and protections afforded to both credit providers and consumers.


Course Content:

� Overview of the Act � Credit agreements the Act is applicable to � Requirements for credit providers � Consumer rights � Debt intervention and over indebtedness � Protection afforded by the Act in situations of over indebtedness � Reckless credit and how to avoid it � The national credit regulator and their mandate


Course Objective:


Who Should Attend?

☒Auditors ☒Bookkeepers ☒Financial accountants ☒Compliance officers

Individuals: R 437.00 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Yvonne Rossouw


Overview:

Several amendments to the National Credit Act, 34 of 2005 were introduced by the National Credit Amendment Act, 19 of 2014. These amendment have a major impact on credit providers working in the industry as well as on all credit consumers. These changes are significant and the industry is now more regulated than ever before. It is important that all credit providers and consumers understand these new rules.


Course Content:

Overview of debt statistics in South Africa Who is a credit provider? What is a credit agreements in terms of the Act? Meaning of an incidental credit agreements and how it is regulated by the Act What type of credit transactions are excluded by the Act? Impact on loans within the scope of an employment relationship Different types of credit agreements The new registration requirements for credit providers Unlawful credit agreements and the consequences of entering into one Reckless credit agreements and the consequences of entering into one Prohibited credit marketing practices Consumer's rights i.t.o the new amendments to the Act Pre-agreements and the new rules as to what information must be disc � Maximum interest rates, costs and fees that are allowed to be charge �The in dumdum rule explained The cost of credit and what needs to be explained to the credit consume � Termination of agreements and the surrendering of goods allowed i.t.o the Act The debt enforcement process explained � Importance of the section 129 notice to the credit consumer The effect of the new Child Maintenance Bill on credit consumers The debt counselling process explained The use of a Payment Distribution Agent Issuing of clearance certificates by debt counsell The credit amnesty process explained The new affordability assessment process explained and how it will effect credit consumers The new rules relating to prescribed debts


Course Objective:

None


Who Should Attend?

Accounting professionals and their staff Bookkeepers and financial assistants Creditors and debtors clerks Credit consumers Credit and risk department officers and staff Credit control and management officers and staff Loans and customer service staff Anyone else who would like to learn more about the National Credit Act

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