Act (36 of 2005) was introducd to serve as a guidline between credit providas and applicants to learn them about their rights nd responsibilities...PURPOSE:ADDRESS ND CORRECT IMBALANC NEGOTATIONS BETWEEN THE PROVIDA AND APPLICANT ...ENCOURAGE responsible Borrowing,avoid ova indebtness and financial obligations. TO CUSTMA...IMPLICATIONS on the business:TOO STRICT MAY LEAD TO FEW CUSTMAS...GVE QUATATIONS AND RELEVNT INFORMATION TO APPLICNTS REGARDNG COST ND PAYMENTS....BUSINES MAY LOSE CUSTAMAS....RIGHTS TO CUSTOMERS:RIGHT TO BE ASSISTD IN ALL 9 OFFICIAL(plain)LANGUAGE....RIGHT TO KNOW REASONS OF CRDIT REJCTD....RIGHT TO HOLD COPY OF DOCUMENTS And Record of agreement....RIGHT TO CHALLENGE FINANCIAL RECORDS OF PAYMENTS....ADVANTAGES TO CUSTAMAS:FAIR PRACTICE....ACCESS TO EASI CREDIT....ETC
Posted on: Sat, 16 Nov 2013 14:57:17 +0000