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Section 129 notice

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NCA summons interrupts prescription despite no section 129 notice

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on July 21, 2014

The bank failed to give notice to the defaulting consumer under section 129 of the National Credit Act before issuing summons against the consumer. By the time it gave notice with the consent of the court, three years had passed since the debt became due. The consumer alleged that the debt had prescribed. The court…

Posted in Banking

Track and trace usually sufficient for section 129 NCA notices – Sebola clarified

Photo of Aslam Moosajee (ZA)
By Aslam Moosajee (ZA) on February 20, 2014

Section 129 of the National Credit Act does not require a credit provider to prove that a notice by registered post actually came to the attention of the consumer. If a consumer has elected to receive notices by post, a credit provider must prove:

(a) the sending of the notice by registered mail;

(b) that…

Posted in Banking

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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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