Can I list a debtor as a bad payer with the Credit Bureau?
A credit-granting business can list a business or an individual who has defaulted on payment, following the National Credit Act (NCA) regulations, directly onto several...
Tag: National Credit Regulator
Debt dictionary – The ABCs of debt
Got a question about debt? The answer may be here.
Administration order
This is a court order where your financial position is examined and an administrator divides your salary amongst the creditors. The order will remain on your credit record for a period of five …
Provided By Legal&Tax
Financial sector regulatory sandboxes: Let’s go to the beach
Under the more relaxed lockdown restrictions, and with a change of season in the air, lots of South Africans may be heading to the country’s...
Can a bank sell a repossessed vehicle for a ridiculous amount?
FirstRand Bank Limited t/a Wesbank v Davel (1229/2018) [2019] ZASCA 168 (29 November 2019).
FirstRand Bank Limited t/a Wesbank (Wesbank), concluded a written instalment sale agreement...
Insights into the world of debt recovery – An interview with Kannigan Attorneys Incorporated
We were privileged to recently interview one of Taurus Capital’s esteemed clients, Kimmona Kannigan, Director of Kannigan Attorneys Incorporated. Our discussion focused on the widespread...
Unlawful credit agreements
The majority of South Africans are using some form of credit or have access to some form of credit, whether by way of credit cards, clothing account credit cards, personal loans, etcetera. The National Credit Act 34 of 2005 (hereinafter referred to as “the NCA”) purports…
Provided By SchoemanLaw Inc
Law firm finance 101 – Tools to limit interest expense on third party funding
It is our recommendation that this article is read in conjunction with an earlier piece published on Taurus Capital’s website, titled, the Interest Tax Shield,...
Consumer alert – Risk of not registering as a credit provider
There has been a bit of confusion over whether a person providing credit in the form of a monetary loan is obliged to register as...
“The Debt Intervention Bill” signed into law
The National Credit Amendment Bill (“the Bill”), referred to in the press as the “The Debt Intervention Bill”, was signed into law in August 2019...
Vendor financiers risk right to claim purchase price in the event of a default on payment
There are often instances where a person wishes to purchase shares in a company but does not have the capital to fund all or a...
