Did you know if a credit provider’s registration lapses in terms of the National Credit Act (NCA), credit agreements concluded are considered “unlawful and of no force and effect”.
According to the National Credit Regulator’s website, there are 9 467 records of credit providers whose registrations have lapsed because they did not pay their renewal fees.
It could be that these providers didn’t pay the fees because they didn’t receive an invoice from the NCR, but under the Act, this not a valid excuse if they want to challenge their lapsed status. The law states that credit providers must keep their contact details current with the NCR.
This is just one of the many important facts you need to know if you work in the credit industry.
Moonstone Business School of Excellence (MBSE) offers three fun and interactive online courses that provide key information on the importance and application of the NCA, specifically focusing on the obligations of credit providers, as well as the rights and obligations of consumers in terms of the NCA.
The power of three
All three courses are perfect for credit providers, regardless of their size, that engage in credit agreements governed by the NCA. They are also suitable for credit agents authorised to represent credit providers.
The Managing the NCA course is designed for executives, senior managers, and financial managers working for credit providers. It includes 10 learning units and takes about 12 hours to finish. The cost is R4 104 (including VAT).
The Understanding the NCA course is aimed at finance and insurance agents working at motor dealerships, as well as employees of credit providers and credit agents. It consists of eight learning units and can be completed in about eight hours. The cost is R3 024 (including VAT).
The NCA Refresher course provides the opportunity for industry professionals to stay informed about any new changes in the regulatory landscape. It’s designed for credit providers, credit bureaus, and debt counsellors who have completed the Managing the NCA course and want to update their understanding of NCA requirements. With 10 learning units, the course takes about eight hours to finish, and it costs R3 024 (including VAT).
Mobile-ready, engaging, and interactive
What makes MBSE’s NCA courses unique and accessible is the fact that they are packed with animated and presenter-led videos that keep students engaged with interactive functions. The courses are also mobile- and tablet-friendly for on-the-go studying.
In addition to the interactive interface, the learning units come with downloadable study guides that can be printed if students prefer absorbing knowledge from paper.
Students also get access to tools, such as templates for prescribed returns, and a library of guidelines and notifications from the NCR.
The three courses were relaunched following a revamp in 2022. Students’ feedback on the redesigned course material included comments such as “easy to understand”, “user-friendly”, “well put together”, “detailed and informative”, and “engaging”.
One student said: “The materials were well-structured and presented in a way that was easy to follow. The course was flexible, allowing me to learn at my own pace.”
Another added: “The course was amazing. The animated videos really helped a lot. The activities between modules were also very helpful. Thank you for making the NCA course fun.”
What students need to know
There are no admission requirements for any of the three courses, and students can apply at any time of the year.
Students have access to the course material for six months or until they pass the final online assessment.
After each learning unit, students complete a self-assessment, and there’s a final assessment at the end of the course.
Upon successful completion, students receive an MBSE certificate. Those who pass the Managing the NCA or Understanding the NCA course also earn an NCA card, which is legally required for many industry roles.
