Answer to Question #95752 in Law for mpfumelo

Question

Mutri buys goods from Nad for 2000 subjects to the national credit act, the agreement is entered into at Nad's office in sandton, what are the legal positions?

Answer 1

As a consumer, Mutri has to be protected against discrimination in the granting of credit, receive a free copy of his credit agreement, receive a credit agreement in plain and simple language, have his personal and financial information treated confidential, to understand all fees, costs, interest rates, the total installment and any other details, to say no to increases on his credit limit, decide whether or not he want to be informed about products or services via telephone, message, mail or e-mail campaigns, and to apply for debt counselling should he be overwhelmed by debt.