Media Release

October 2014 

National Credit Regulator commissions an investigation into various credit providers regarding shortfalls arising from the sales of repossessed consumers' motor vehicles and houses

The National Credit Regulator (NCR) has announced that it is commissioning an investigation into various credit providers regarding shortfalls arising from sales of consumers' repossessed motor vehicles and houses by credit providers. 

The investigation is part of the effort by the NCR to ensure that credit providers sell consumers' repossessed motor vehicles and houses as soon as reasonably practicable or for the best price reasonably obtainable.

"Credit providers should ensure that they sell consumers' repossessed motor vehicles and houses as soon as reasonably practicable or for the best price reasonably obtainable so that consumers are not liable to pay shortfalls that are substantially high. This is an issue of serious concern to the NCR, says Nomsa Motshegare, Chief Executive Officer of the NCR. "

 

Ends

 

 

Issued by: 

Lebogang Selibi

National Credit Regulator

Tel: (011) 554 - 2722

NCR Call Centre: 0860 627 627

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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