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Section 129(1) of the National Credit Act requires negotiation of arrear payment terms

Photo of Riccardo Petersen (ZA)
By Riccardo Petersen (ZA) on June 13, 2025

At the end of May 2025, the High Court held that where notice is given by the credit provider to the consumer under section 129(1)(a) of the National Credit Act drawing attention to a default, the credit provider must negotiate with the consumer who wants to make arrangements to pay off the arrears. The credit provider…

Posted in Credit

Section 129 National Credit Act notice must state the amount in arrears

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on January 20, 2020

Section 129 of the National Credit Act requires the creditor to specify the default including the actual amount of the arrears. The requirement for ‘drawing the default to the attention of the consumer’ means more than just the fact that the consumer is ‘in default’.

Section 130(4) gives the debtor an opportunity to remedy the…

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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