Affordability Assessments in terms of the National Credit Act
The National Credit Act requires a credit provider to conduct an affordability assessment before entering into a credit agreement with a consumer. Failure to conduct this assessment properly (or at all) will make the credit provider guilty of reckless credit and expose the credit provider to harsh consequences. Do you know how to conduct a proper affordability assessment? If not, our latest newsletter (Newsletter 8) will help you – go to http://www.fouriestott.co.za/publications/