A student loan could, for example, be granted to an unemployed consumer who may not have a credit file (so that the lender does not know its payment history). The consumer may not be solvent and there is no security. The nature of these agreements excludes reckless loans. After reading the credit contract correctly, Sarah accepts all the terms described in the agreement by meaning it. The lender also signs the credit agreement; after the signing of the agreement by both parties. A lender who, if a debt is liable, has caused foreclosure charges may ask a court to charge the consumer with the foreclosure fee. The court will only take this injunction if the consumer has provided false information about his address or the location of the goods. The regulations provide that different categories of consumer credit information can be retained by credit bureaus. For example, civil judgments may be retained for the first credit provider, in order to assert a credit contract only if a credit provider correctly terminates a credit contract, the court may order the seizure of the goods, so that the sale of the goods allows for the count. This procedure follows the usual common law. If you have purchased items but want to terminate the credit contract, you usually have to return the goods or find another way to pay for them. Therefore, credit cannot be considered a basic universal service, to which access to water, health care and electricity should be expanded, as well as access to water, health care and electricity.

There is a greater need to reconcile access to credit with the protection of consumers, especially vulnerable people. A credit provider must not use an identity card, credit or debit card, access card or PIN to obtain a credit agreement or to recover the contract. A violation of this provision is punishable. A precedent for the conditions sets out all the conditions. One condition could be z.B. a condition that the borrower sign an agreement to bring all contract disputes to arbitration. The new structure for the cost of credit will work better for the largest credit advances of more than R8,000. The cost of loans for contracts under R1000 is comparable to 30% per month, with no interest rate limit calculated for small loans, the vast majority of microcredit borrowers come from low-income groups. The poorest households bear the heaviest burden of debt servient. It is therefore likely that low-income people and communities that borrow small amounts will continue to suffer from the devastating socio-economic difficulties mentioned above, contributing to the persistence of poverty. Auxiliary credit contracts are not covered by the definition of credit contracts in the act.

Section 5 defines the limited provisions of the law that apply to them. This provision helps prevent credit providers from taking abbreviations by simply accepting apparently solvent debtors at face value. A lender can use its own valuation mechanisms, provided they are fair and objective. The consumer, on the other hand, must provide the requested information in a complete and truthful manner. Otherwise, the credit provider could fully defend the charge of granting reckless credits. Every adult has the right to apply for a loan, but no one has the right to get credit. A lender may choose to refuse credit on reasonable business grounds, but should not unfairly discriminate against a consumer against other consumers on the basis of race, religion, pregnancy, marital status, ethnic or social origin, sex, sexual orientation, age, disability, culture, language Etc. A consumer may demand reasons for denial of credit that must be communicated in writing by the credit provider.