What happens if I can’t pay my full debt review? If you can’t honour your debt repayment plan by falling short on your payments or not paying them at all, your credit providers will start taking legal action. Legal action can result in you losing all of your assets — even your home.

The National Credit Regulator (NCR) was established by The National Credit Act, 2005 (Act No. 34 of 2005). The NCA requires the NCR to promote the development of an accessible credit market and to ensure that debt counsellors, the credit bureaux and credit providers are compliant with the Act.

A: Request a clearance certificate from your debt counsellor and submit it to the credit bureau. The credit bureau will then remove the debt review status from your credit report.

The NCR’s mandate is to: promote and support the development of a fair, transparent, competitive, sustainable, responsible, efficient and effective consumer credit market, and to increase participation of historically disadvantaged persons, low-income persons and communities, and remote, isolated or low-density …

Register as a National Credit Provider. The NCR is also tasked with the registration of credit providers, credit bureaux, and debt counsellors; and with the enforcement of compliance with the Act. It’s a requirement of any party or juristic person who advances money and or who extends credit to register with the NCR.

For most debts, the time limit is 6 years since you last wrote to them or made a payment. The time limit is longer for mortgage debts. Your debt could be statute barred if, during the time limit: you (or if it’s a joint debt, anyone you owe the money with), haven’t made any payments towards the debt.

The National Credit Regulator (NCR) has an online system where they require Debt Counsellors to capture information about their clients and people who apply to have their debt reviewed. It is called NCR Debt Help.

The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry.

Website: http://www.ncr.org.za. (link is external) Postal Address: P O Box 209, Halfway House, 1685. Street Address: 127-15th Road, Randjespark, Midrand, JOHANNESBURG, 1685. Phone: 011 554 2600.

It is tasked with carrying out education, research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the Act.