David Rosin - The National Credit Amendment Bill 2018


At the end of March 2017, 24.68 million consumers were credit-active in South Africa, of which 14.99 million were in good standing. The balance either had impaired records (three or more payments or months in arrears) or ‘‘adverse listing’ (a judgment or an administration order).

The Bill aims to provide for capped debt intervention to promote a change in the borrowing and spending habits of an over-indebted society. The Bill will provide relief to South Africans who have no other effective or efficient options to extract themselves from overindebtedness through: The Amendment Bill, should it pass and be assented to by the State President, is expected to have a significant impact on the lives of thousands of ordinary South Africans as well as large parts of the finance and banking sectors.