The NCA Credit Agreement requires confirmation of Affordability Assessment

Sui generics nature of the National Credit Act Credit Agreement 

The credit agreements under the NCA requires the the credit provider conducts a detailed AFFORDABILITY ASSESSMENT and that the assessment by implication becomes part of the NCA credit agreement. Since 2005 the consumer credit industry is required to adhere to the NCA Act, amendments, regulations and ministerial Proclamations strictly under the statutory enabled Regulator NCR and Tribunal NCT

The NCA requires that industry players register with the NCR, who may exercise jurisdiction or power over these registrants and their activities under tge NCR. 

The NCA Act has been effected by shoddy implementation and the NCR tasked with the duties apparently ignored the Rule of Law rules, which may be simply put that if any administrative arrangement is not part of the NCA Act, regulations, amandment said or Ministerial Proclamations it is VOID and unenforceable and may be ignored without fear of prosecution 

The credit industry is dominated by powerful commercial banks, these banks are credit providers and registered under the NCA  and granted a unique NCRDC registration number

Granting credit when unregistered has the effect of masquerading and is a criminal office. 

The uniques requirement for a valid an lawful,credit agreement is that the registered credit provider must conduct a Affordability Assessment before formally propositioning a consumer with a pre agreement proposal to enter into a valid and lawful credit agreement which at the time of granting credit would be valid 

The NCA indicates that the Minister may  instruct the NCR to keep a register contains all lawful, active credit agreements. The requirement in section 69 NCA has not been implemented and became the subject of a discussion in recent years  

Tge position of the Sui genesis NCA credit agreement has been undermined by the NCR since the inception of the NCA Act in 2005 and we are of the opinion that the flaunting of the Rule Of Law by the NCR has caused the NCA and debt counselling being a massive failure 

The NCR and NCT have misinterpreted their administrative powers and in so doing made themselves guilty of serious offences under specifically section 33 NCA and PAJA 2000 which regulates the actions of ADMINISTRATIVE BODIES  

We will continue this blog with further publications in the Public Interest of Consumers and Citizens of South Africa who maybe directly or indirectly affected. 

GSA Attorneys also claim immunity against wilful and vexatious actions designed to discredit our good name and actions in public interest under Whistleblower status  

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