Mould, K. L.Conradie, M.Bester, Ankia2015-10-092015-10-092012-02http://hdl.handle.net/11660/1340English: The National Credit Act 34 of 2005 came into operation in 2006 with the purpose to promote and regulate the credit market and industry and to protect consumers by promoting development of the credit market, consistent treatment of different credit products and different credit providers, promoting responsibility in the credit market, addressing incorrect imbalances, improving consumer credit information and reporting regulation of credit bureaus, addressing and preventing over-indebtedness of consumers, to develop a consistent and accessible system of consensual resolution of disputes and a consistent and harmonized system of debt restructuring, enforcement and judgment. With reference to the credit history and the many over-indebted South Africans, it is clear that the National Credit Act came into operation to repair the shortcommings of our previous credit legislation. With the commencment of the National Credit Act various forms of consumer credit protection was introduced to the credit market of which the most important is debt review. Notwithstanding the negative reception and impression the National Credit Act made on many South Africans, the majority of consumers welcomed the Act with open arms. The expectation of consumer protection, with reference to the prevention of over-indebtedness and debt review, was created for many consumers. After the completion of the obligated course, individuals throughout the country applied to the National Credit Regulator to be registered as debt counsellors with the prospect to assist consumers in accordance with section 3 of the National Credit Act. The National Credit Act was seen as something that will help everyone seeing that consumers do not have to run away from their obligations anymore. On paper this Act seemed to be executable, but unfortunately practical complications started to show in the National Credit Act that influenced the enforcement thereof. Grey areas like unreasonable litigation and termination of debt review, jurisdiction and cost complications are just some of the problems that debt counsellors have to face today. The consequence of these problems is that the debt review process becomes longer and more expensive than the National Credit Act aimed. To correct these grey areas in the National Credit Act, some sections of the Act must be amended to ensure that during the course of the debt review process, debt counsellors, credit consumers and credit providers will act in good faith so that the aim of the National Credit Act can be fullfilled.Afrikaans: Die Nasionale Kredietwet 34 van 2005 het in 2006 inwerking getree met die doel om die sosiale en ekonomiese welstand van elke Suid-Afrikaner te bevorder deur ‘n billike, effektiewe, deursigtige en bereikbare kredietmark te bewerkstellig asook om verantwoordelike leningspraktyke te vorm, om oorspandering te voorkom, die gesindheid van verantwoordelike spandering deur verbruikers te vestig en veral ook om die roekelose toestaan van krediet deur kredietverskaffers te voorkom. Met verwysing na Suid-Afrika se kredietgeskiedenis, is dit duidelik dat die Nasionale Kredietwet inwerking moes tree om die tekortkominge van die vorige kredietwetgewing reg te stel, veral met verwysing na die menigte Suid-Afrikaners wat oorbelas is met skuld. Met die inwerkingtreding het die Nasionale Kredietwet verskeie vorme van Verbruikerskredietbeskerming aan die Kredietmark voorgestel, waarvan die belangrikste skuldhersiening is. Ten spyte van die negatiewe ontvangs en indruk wat die Nasionale Kredietwet op meeste Suid-Afrikaners gemaak het, het menigte verbruikers die Wet met ope arms ontvang. Die verwagting van verbruikersbeskerming met verwysing na die voorkoming van roekelose kredietverskaffing asook skuldherverdeling, was by talle verbruikers geskep. Individue regoor die land het na voltooiing van die vereiste kursus aansoek gedoen om as skuldberaders by die Nasionale Kredietreguleerder te registreer met die vooruitsig om artikel 3 van die Nasionale Kredietwet uit te leef en sodoende verbruikers by te staan. Die Nasionale Kredietwet is deur hulle beskou as iets wat almal gaan help, aangesien verbruikers nou nie meer weens vrees hoef weg te hardloop van hul verpligtinge af nie. Op skrif het die Nasionale Kredietwet prakties uitvoerbaar voorgekom. Ongelukkig het daar hewige praktiese implikasies in die Nasionale Kredietwet na vore gekom wat die toepassing van die skuldhersieningproses geweldig beïnvloed het. Grys areas soos onbillike gedingvoering en terminasie van skuldhersiening, jurisdiksie- asook koste implikasies is slegs ‘n paar van die probleme wat skuldberaders sowel as verbruikers vandag in die gesig staar. Die gevolg van hierdie probleme is dat skuldhersieining ‘n langer en duurder proses word vir skuldberaders en kredietverbruikers wa,t met verwysing na artikel 3 van die Nasionale Kredietwet, nie die doel van die inwerkingtreding was nie. Om hierdie grys areas in die Nasionale Kredietwet reg te stel, gaan van die artikels in die Nasionale Kredietwet gewysig moet word ten einde te verseker dat skuldberaders, kredietverbruikers asook kredietverskaffers op so ‘n wyse op te tree dat die Nasionale Kredietwet sy doel kan bereik.afSouth Africa. National Credit Act, 2005Credit -- Law and legislation -- South AfricaFinancial institutions -- Law and legislation -- South AfricaDissertation (LL.M. (Mercantile Law))--University of the Free State, 2012DissertationUniversity of the Free State