Debtfree Magazine Issue 11 of 2021
SA's free magazine about dealing with debt, debt counselling and debt review. This month we look at the topic of debt addiction. Could you be addicted to debt? We also look at how two debt counsellors were fined R500 000 each. Why? News, Reviews, Tips and advice and more.
SA's free magazine about dealing with debt, debt counselling and debt review.
This month we look at the topic of debt addiction. Could you be addicted to debt?
We also look at how two debt counsellors were fined R500 000 each. Why?
News, Reviews, Tips and advice and more.
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HAWKS SWOOP ON
LOAN SHARK OPERATION
It is illegal to lend money and charge a fee or interest
unless you first register as a credit provider with the NCR.
Also, those who offer credit have to stick to the
requirements of the National Credit Act (NCA). The NCA
regulates fees and interest that is allowed to be charged
and also prohibits taking peoples personal documents or
cards as surety for loans.
This month, the Hawks, accompanied by members of
the National Credit Regulator (NCR) swooped down on
an illegal credit providing operation in Hazyview, called
Humelela Cash Loans. The owner, Ms Nozipho Yolanda
Precious Mabuza, was running the business without having
registered with the NCR.
At Humelela Cash Loans the Hawks found over 500 bank
cards and Sassa grant cards, as well as, identity documents
of many clients. Ms Mabuza was illegally demanding these
items from clients when providing loans.
These items will now be returned to the rightful owners.
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