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   0860 627 627 (Call Centre) / 011 554 2700  (Reception) 

  info@ncr.org.za / complaints@ncr.org.za / workshops@ncr.org.za

WELCOME TO THE NATIONAL CREDIT REGULATOR

The National Credit Regulator (NCR) was established as the regulator for the South African credit industry by the National Credit Act (34 of 2005) (NCA). It is tasked with consumer education, research, policy development, registration of industry participants, investigation of complaints and enforcement of the NCA.

The NCA requires the NCR to promote the development of an accessible credit market, particularly to address the needs of historically disadvantaged persons, low income persons, and remote, isolated or low density communities.

The NCR registers and ensures compliance to the NCA by the following industry participants: credit providers, credit bureaus, debt counsellors, alternative dispute resolution agents and payment distribution agents.

WELCOME TO THE NATIONAL CREDIT REGULATOR

The National Credit Regulator (NCR) was established as the regulator for the South African credit industry by the National Credit Act (34 of 2005) (NCA). It is tasked with consumer education, research, policy development, registration of industry participants, investigation of complaints and enforcement of the NCA.

The NCA requires the NCR to promote the development of an accessible credit market, particularly to address the needs of historically disadvantaged persons, low income persons, and remote, isolated or low density communities.

The NCR registers and ensures compliance to the NCA by the following industry participants: credit providers, credit bureaus, debt counsellors, alternative dispute resolution agents and payment distribution agents.

Men and finances

July 2021

The total outstanding consumer credit balances (or gross debtors book) as at March 2021 was R2.04 trillion. This amount represents monies that South African’s owe in terms of credit which is made up of amongst others, mortgage bonds, vehicle finances, credit cards, personal loans, store cards etc.  This shows that credit plays an important role in people’s lives and if used properly, it can assist to build or accumulate assets, says Ms Anne-Carien Du Plooy, Acting Manager: Education and Communication at the National Credit Regulator (NCR). “However, if credit is used recklessly, it can cause serious financial strain which may leave many consumers struggling to repay their monthly debt instalments”.

Although, we do realise that financial problems are not gender specific, in celebrating Men’s Month in July, the NCR calls on all men to be financially savvy and take control of their finances. At times men try to increase their family household income by participating in different money making schemes such as stokvels, online trading, gambling, investments, excessive usage of their credit cards etc. While trying to increase household income, some men find themselves falling prey to fraudsters or taking more than they can chew. Some men accumulate a lot of debt and become vulnerable to scammers where they will be paying monies upfront with a promise of being given a loan or leave their identity documents with credit providers in order to get a loan.

Du Plooy advises all men with financial problems to have courage to seek professional advice. There are different debt relief measures available such as negotiations with credit providers for lower instalments, debt counselling, and the usage of credit life insurance for those who qualify etc. Thus, the NCR urges men to take control of their finances by doing a monthly budget, checking their free credit reports with credit bureaus and to also seek help when it is needed.

The NCR conducts consumer education workshops at no charge. If men groups / organisations would like the NCR to conduct workshops for them on the National Credit Act which covers, amongst other topics, consumer rights, budgeting, credit information and credit bureaus, debt counselling, repossession etc. they should contact the NCR on 0860 627 627 or on This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it..

Below are a few tips for men to remain financially savvy:

  • Avoid using credit cards to buy food, alcohol etc.
  • Compile a monthly budget and stick to it;
  • Cut unnecessary expenses from your budget;
  • Make provision for savings in your budget;
  • Seek professional help if you are battling with debt;
  • Only use registered credit providers. You can verify their registration with the National Credit Regulator on www.ncr.org.za;
  • Do not give your personal details such as ID number, baking details etc. to strangers.  

Ends


About The National Credit Regulator
The National Credit Regulator (NCR) was established in terms of the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry. The NCR is mandated with the registration of Credit Providers, Credit Bureaus, Debt Counsellors, Payment Distribution Agents, and Alternative Dispute Resolution Agents; and monitoring their conduct in compliance with the National Credit Act as amended. The National Credit Regulator offers education and protection to consumers of credit in promotion of a South African credit market that is fair, transparent, accessible and dynamic.

 

For more information contact:
Media Office: This email address is being protected from spambots. You need JavaScript enabled to view it.
Or
Winnie Rabathata
064 752 3923
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.ncr.org.za

Alternative Data Landscape in South Africa

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Credit extension slows down

July 2021

The National Credit Regulator (NCR) released the Consumer Credit Market Report (CCMR) and the Credit Bureau Monitor (CBM). These reports are based on the data submitted to the NCR by registered credit providers and credit bureaus, respectively. The latest edition of the reports covers credit market information from January 2021 to March 2021. The total value of new credit granted decreased by 10.11% quarter-on-quarter from R154.42 billion to R138.81 billion. The number of credit agreements entered into decreased by 12.66% quarter-on-quarter from 3.66 million to 3.20 million.
The following were some of the most significant trends observed in terms of credit granted for the quarter ended March 2021:

  • The value of new mortgages granted decreased by R8.40 billion (13.40%) quarter-on-quarter and increased by R15.33 billion (39.39%) year-on-year.
  • Secured credit which is dominated by vehicle finance, decreased by R6.57 billion (13.82%) quarter-on-quarter, and increased by R1.87 billion (4.77%) year-on-year.
  • Credit facilities increased by R1.91 billion (10.78%) quarter-on-quarter and by R440.37 million (2.29%) year-on year.
  • Unsecured credit decreased by R2.69 billion (11.77%) quarter-on-quarter and by R5.18 billion (20.47%) year-on-year.

The total outstanding consumer credit balances (or gross debtors book) as at March 2021 was R2.04 trillion, representing an increase of 1.27% quarter-on-quarter and of 2.68% year-on-year. The trends for outstanding balances for the quarter ended March 2021 were as follows:

  • Mortgages debtors book increased by R27.10 billion (2.67%) for the quarter ended March 2021 and by R54.05 billion (5.47%) year-on-year.
  • Secured credit debtors book increased by R1.55 billion (0.34%) for the quarter ended March 2021 and by R8.43 billion (1.88%) year-on-year.
  • Credit facilities debtors book decreased by R498.01 million (0.19%) for the quarter ended March 2021 and increased by R167.49 million (0.06%) year-on-year.
  • Unsecured credit debtors book decreased by R3.46 billion (1.60%) for the quarter ended March 2021 and by R10.92 billion (4.88%) year-on-year.

Credit bureaus held records for 27.53 million credit-active consumers, which showed an increase of 0.44% when compared to the 27.41 million in the previous quarter. Consumers classified in good standing increased by 216,007 to 17.01 million consumers. This amounts to 61.80% of the total number of credit-active consumers, an increase of 0.84% quarter-on-quarter and a decrease of 0.78% year-on-year. The number of credit active accounts decreased from 90.47 million to 85.09 million in the quarter ended March 2021. The number of impaired accounts has decreased from 23.85 million (26.34%) to 20.18 million (23.71%) in March 2021, a decrease of 3,650,424 quarter-on-quarter and increased by 296,911 year-on-year.

The number of credit reports issued to consumers increased from 394,458 to 584,437. A total of 493,538 (84.45%) credit reports were issued free of charge, and the balance of 90,899 (15.55%) were issued at a cost. There were 25,404 disputes lodged on information held on consumer credit records for the quarter ended March 2021, a decrease of 4.50% quarter-on-quarter and 35.80% year-on-year.

Nomsa Motshegare, the Chief Executive Officer (CEO) of the NCR recognises that consumers are indeed facing tough times and encourages those who are battling to keep up with their debt to utilise the different debt relief options provided for in the National Credit Act and by the industry. Consumers battling with their debt can approach their credit providers directly to negotiate for lower instalments or for some kind of relief on their debts. If this fails, consumers can approach a registered debt counsellor for assistance.

Motshegare further advises consumers who qualify to claim from their credit life insurance. Credit life insurance covers the outstanding debt in the event of unforeseen circumstances such as death, retrenchment, unemployment, inability to earn an income, disability and others. In the event of the consumer becoming unemployed or unable to earn an income, the credit life insurance cover provides that credit providers must settle / pay the consumer’s debt for a period of twelve (12) months or for the remaining repayment period or until the consumer finds employment or is able to earn an income, whichever period is shorter. Consumers can also enquire from the Department of Labour about unemployment insurance fund (UIF) applications.

Comparisons in this release- ‘quarter-on-quarter’ refers to a comparison between the December 2020 and March  2021 quarters, and ‘year-on-year’ refers to a comparison between the March 2020 and March 2021 quarters.

ENDS


About The National Credit Regulator
The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (NCA) and is responsible for the regulation of the South African credit industry. The NCR is mandated with the registration of Credit Providers, Credit Bureaus, Debt Counsellors, Payment Distribution Agents, and Alternative Dispute Resolution Agents; and monitoring their conduct in compliance with the National Credit Act as amended. The National Credit Regulator offers education and protection to consumers of credit in promotion of a South African credit market that is fair, transparent, accessible and dynamic.

For more information contact:

Media Office: This email address is being protected from spambots. You need JavaScript enabled to view it.
Winnie Rabathata: 064 752 3923
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.ncr.org.za

The importance of knowing your credit status

June 2021

According to the National Credit Regulator’s (NCR) Credit Bureau Monitor (CBM), out of 27.41 million credit active consumers, about 395 000 consumers accessed their credit reports in the quarter ending in December 2020. The CBM shows that a significant number of consumers do not check their credit reports as often as they ought to. Although, there has been an increase in the number of consumers accessing their credit reports, the figures still remain low, says Ms. Anne-Carien Du Plooy, Acting Manager: Education and Communication at the NCR.

In order to assist consumers to understand more about credit reports, Du Plooy provides an explanation. A credit report provides a consumer’s credit information such as a person’s credit history, including applications for credit, credit agreements to which a person is or has been a party, pattern of payment or defaults under any such credit agreements, debt review status etc. Further to the type of information kept at the credit bureaus, the National Credit Act also stipulates how long the information should be kept at the credit bureaus, adds Du Plooy.

Consumers are entitled to one free credit report once per annum from any of the four consumer credit bureaus listed below. By accessing their credit reports, consumers will have insight into what is contained in their credit reports. They will also be able to dispute any incorrect information with the credit bureau where they obtained their credit reports, make necessary payments where required and ultimately work on fixing their credit reports if there are any adverse listings, judgments etc., advises Du Plooy. Accessing a credit report will also assist consumers to know if they are a victim of identity fraud.

A healthy credit profile will enable a consumer to qualify for credit and get a lower interest rates as opposed to someone who has a bad credit report. A credit report can also be checked in instances where a company is considering a candidate for employment in a position that requires honesty in dealing with cash or finances. A bad credit report might affect your chances of getting a job, adds Du Plooy

Our message to the youth is to aim to keep a clean credit profile all the time. This can be done by avoiding unnecessary credit, paying all debts as and when required and saving for emergencies. She also added that consumers should avoid taking debt for other people. For an example, you take clothes for your partner on credit with the promise that they will make monthly repayments. In this instance, consumers should remember that the person responsible for payment of the debt is the one who signs the credit agreement as the verbal agreement they made to you will not count.

The NCR urges all consumers to contact any of the below credit bureaus and request a free copy of their credit report, in particular the youth since it is their month. Consumers should dispute any incorrect information with the credit bureaus.
Only escalate to the Credit Ombud if the credit bureaus cannot assist you, concludes Du Plooy.

Contact Credit Bureaus


Experian

(011) 799-3400/ 086 151 4131

www.experian.co.za

This email address is being protected from spambots. You need JavaScript enabled to view it.

TransUnion 

0861 886 466

www.transunion.co.za

This email address is being protected from spambots. You need JavaScript enabled to view it.

XDS

0860 937 000
(011) 645-9100

www.xds.co.za

This email address is being protected from spambots. You need JavaScript enabled to view it.

Consumer Profile Bureau

(010)590-9505

www.consumerprofilebureau.com

This email address is being protected from spambots. You need JavaScript enabled to view it.

Credit Ombud

0861 662 837

www.creditombud.org.za

This email address is being protected from spambots. You need JavaScript enabled to view it.

National Credit Regulator

0860 627 627

www.ncr.org.za This email address is being protected from spambots. You need JavaScript enabled to view it.

Ends


About The National Credit Regulator
The National Credit Regulator (NCR) was established in terms of the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry. The NCR is mandated with the registration of Credit Providers, Credit Bureaus, Debt Counsellors, Payment Distribution Agents, and Alternative Dispute Resolution Agents; and monitoring their conduct in compliance with the National Credit Act as amended. The National Credit Regulator offers education and protection to consumers of credit in promotion of a South African credit market that is fair, transparent, accessible and dynamic.

For more information contact:

Media Office: This email address is being protected from spambots. You need JavaScript enabled to view it.

Winnie Rabathata: 0647523923
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.ncr.org.za

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