Blog
As a business owner, there's nothing more frustrating than a vendor or customer who fails to pay what they owe. Unpaid fees or invoices can significantly strain your cash flow and disrupt your operations. When this happens, acting quickly and following the proper legal procedures to recover the outstanding debt is crucial. One of the first steps in the debt collection process is sending a Section 129 Letter, also known as a Letter of Demand. [...]
Blog
Credit is a bedrock of modern businesses. It stimulates the economy and promotes commercial activity. However, there's a potential downside. Credit allows people and businesses to spend money they don't have. It's not a perfect system, and it can entice people to spend more than they earn, use credit for ordinary purchases, and choose credit even when they have cash available. The reality is that poor credit and money management skills often lead people into [...]
Blog
As a business owner or employer in South Africa, the onus is on you to be aware of the importance of complying with the Protection of Personal Information Act (POPIA). The POPI Act aims to protect South African citizens' privacy and personal information, making it crucial that your credit application form is POPIA-compliant. In this article, we will delve deeper into why having a POPIA-compliant credit application form is vital for your business's success and [...]
NCA & POPIA
Ensure You Have Proof Of Delivery June 2012, the Constitutional Court clarified the requirements surrounding the delivery of the notice that a credit provider must give to a consumer or debtor, in the event of default, (the section 129) letter as required by the National Credit Act (“the NCA”). In terms of section 129, in conjunction with section 130 of the NCA, a credit provider must provide consumers with a notice in which the consumer is advised [...]
NCA & POPIA
The information regulator (South Africa) is an independent body established in terms of section 39 of the protection of personal information act 4 of 2013. It is subject only to the law and the constitution and it is accountable to the national assembly. The information regulator is, among others, empowered to monitor and enforce compliance by public and private bodies with the provisions of the promotion of access to information act, 2000 (act 2 of [...]
NCA & POPIA
Issued by the CBA We have considered both section 2(5) of the NCA, as well as section 4 of the Interpretation Act, both of which appear below (for convenience). Section 2(5) of the NCA When a particular number of business days is provided for between the happening of one event and another, the number of days must be calculated by—(a) excluding the day on which the first such event occurs;(b) [...]
NCA & POPIA
Automatic Removal Of Adverse Consumer Credit Information All adverse information recorded on a credit bureau must be removed once the debt has been settled. Retention Periods For Displaying Information On The Credit Bureaus CategoryDescriptionMaximum PeriodChangeDetails and results of complaintsNumber and nature of complaints lodged and whether a complaint was rejected. No information may be displayed on complaints which may6 monthsEnquiriesNumber of enquiries made on a consumer’s record, including the name of the entity/person who made [...]
NCA & POPIA
The National Credit Act was passed mainly to protect the consumer. It applies to all juristic persons (with limitations) and to all natural persons (even if they are a sole proprietor). It also applies to trusts that have two or fewer trustees (unless one of the trustees is itself a juristic person). The NCA does not apply to large juristic persons, that is those that have an annual turnover or asset value in excess of ZAR 1 000 000 [...]
Marketing
Quick Guide To Direct Marketing Compliance With introduction of POPIA (Protection of Personal Information Act) one of the major changes is the way we market to current and potential clients. In electronic marketing it was previously sufficient to allow for opt-out option but this has changed in the fact a client must actually first opt-in to receive marketing by giving their consent rather than opting out. This affects email, SMS, automated voice machines and fax marketing in a [...]
Marketing
Section 13 of the Protection of Personal Information Act (POPIA) provides that ”personal information must be collected for a specific, explicitly defined and lawful purpose related to a function or activity of the responsible party.” Then the supplier must take steps to make the consumer aware of this purpose section 13(2). Consumer/Client must be aware that personal data is being collected. Section 18 provides that the consumer must be made aware that information is being collected [...]
