This blog was co-authored with Michael McCarthy, Candidate Attorney.

The prescribed rate of interest is 11.75% per annum with effect from 1 July 2023. The previous rate was 11.25% per annum.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus

The Supreme Court of Appeal discussed, without deciding, the jurisdiction of the National Consumer Tribunal to deal with matters arising under sections 90 and 91 of the National Credit Act relating to the declaration of a provision as unlawful in terms of section 90(2) and void.

It appears from section 164(1) that no unlawful provision,

The Supreme Court of Appeal upheld the validity of extended warranties in respect of goods sold on credit under the National Credit Act 2005 despite the fact that the warranties were filled in incompletely or inaccurately.

The evidence was that, despite the inaccuracies, the extended warranties were correctly applied and gave extended warranty cover for

Where an order was sought declaring immovable property specially executable but no facts had been placed before the court by the defendant, the court authorised the sale.

The court held that to deny an order declaring a property specially executable where the summons clearly draws a debtor’s attention to their right to lead evidence and

The appeal court has found that the requirement to register as a credit provider is applicable to all credit agreements once the prescribed threshold is reached (currently zero), irrespective of whether the credit provider is involved in the credit industry and irrespective of whether the credit agreement is a once-off transaction. The appeal court

Section 126B which prohibits dealing in a debt under a credit agreement extinguished by prescription, and allows the consumer to raise the defence of prescription (even though the consumer agreed to revive a prescribed debt without being aware of the prescription defence) came into force on 13 March 2015.

Before section 126B was enacted an