What consumers should know about vehicle repossessions
The Ombudsman for Banking Services sets out the legal position regarding prescription, repossession, and a voluntary surrender.
credit agreement
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NCA Credit providers’ FICA obligations
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Credit agreement concluded electronically is valid, High Court confirms
Defendant also argues a recorded phone call should not be considered because he was not warned it might be used in court.
Nedbank takes consumer to court for not disclosing vehicle’s location
The buyer returned the second-hand car to the dealership, which was in a dispute with the person on whose behalf it sold the car.
Agreement between Absa, clients not lawful in terms of the NCA, judge finds
At issue: was the acknowledgement of debt/power of attorney a supplementary agreement?
Ombudsman sets out what consumers should know about prescription
The Ombudsman for Banking Services (OBS) has issued a communication that alerts consumers to their rights when it comes to debt that has prescribed. According to ombudsman Reana Steyn, most consumers are ignorant […]
Collection costs don’t include legal fees, Supreme Court of Appeal rules
The Supreme Court of Appeal (SCA) has clarified that the collection costs incurred by a credit provider to enforce a credit agreement do not include legal fees. The appeal was brought by Bayport […]
