Fees in separate agreements between a service provider and consumers are not automatically illegal, provided they are kept separate from the fees regulated under the credit provider’s agreement.
The Money Stress Tracker survey finds that consumers’ response to financial strain is long on intent but short on action.
The most recent revision to the maximum interest rates and fees that credit providers can charge was in November 2015.
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
The Supreme Court of Appeal’s recent decision underscores the critical importance of understanding ‘transactions at arm’s length’ under the National Credit Act.
Moonstone Business School of Excellence’s engaging and interactive National Credit Act courses are tailored for industry professionals.
Judge says the courts have a duty to assess whether contracts do not offend against constitutional principles, as well as the NCA and the CPA.
