The National Credit Act , also referred to as NCA, became effective from 1 June 2007 and it applies to you if you intend buying or entering into any credit agreements.

The Impact of the new NCA means that consumers are now legally protected from unfair discrimination and irresponsible lending. To avoid disappointment full disclosure is now required from all credit applicants regarding total income, existing credit agreements and monthly expenses. This will allow for proper credit assessments.

Credit providers are now legally bound to lend money in a responsible manner, which means people will only qualify for loans if they have enough money to pay their monthly installments.

All debt repayments histories will now have to be carefully scrutinized since credit providers are legally required to advise the Credit Bureau and National Loans Register of all credit applications and transactions.

The problem comes in where debt can quickly spiral out of your control.
So the trick is, manage your finances.

Allow Financial Services to help you manage your finances and utilize your bond account to consolidate your debt!