n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - The default notice as required by the National Credit Act 34 of 2005
|Article Title||The default notice as required by the National Credit Act 34 of 2005|
|© Publisher:||Juta Law Publishing|
|Journal||SA Mercantile Law Journal = SA Tydskrif vir Handelsreg|
|Publication Date||Jan 2010|
|Pages||568 - 594|
|Keyword(s)||University of South Africa|
The National Credit Act has significantly limited a credit provider's right to enforce the credit agreement where a consumer (ie, a debtor) defaults under his agreement or where the credit provider wishes to cancel the agreement and claim for the repossession of goods. The Act has drastically changed the customary legal debt-collection procedures. There is now a new prescribed procedure set out in Part C of Chapter 6 of the Act that a credit provider has to follow when he wishes to collect a debt from a defaulting consumer, and before he may institute legal action in a court of law.
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