The National Credit Regulator and its Job
The rise in consumers falling into debt has been met with a rise in debt relief. Due to the sheer volume of these institutions popping up, it’s only mandatory for a governing power to ensure fair and safe credit assistance. The South African National Credit Regulator (NCR) is this aforementioned body, while also providing you with protection from any potential scams.
Most socio-economic advancements in South Africa are backed by the NCR and its regulations. This in turn contributes to a non-discriminatory and fair market place. This provides consumers with access to credit and the constant drive to push responsible credit use.
Ultimately, the NCR and its job is to ensure there is an environment where consumers are able to obtain a fair chance of maintaining a good credit score and in turn, are awarded for complying. Many resources and research time are invested into the credit market to keep tabs on consumer spending habits.
The credit record is the way in which the NCR provides everybody with a fair chance. By ensuring a credit record is developed and maintained – a consumer stands the chance to receive incredible financial benefits. These can help with attaining a home, a new car or even a personal loan. More benefits include the issuing of lower interest and rates being deemed trustworthy enough for higher credit limits in the future.
Debtco Group is a trusted debt counselling company and is fully registered and compliant with the NCR guidelines.
If you would like to know how Debtco Group can assist you with your financial situation, contact us today.