The National Credit Act (No. 34 of 2005), “the Act,” was introduced “To promote and advance the social and economic welfare of South Africans, promote a fair, transparent, competitive, sustainable, responsible, efficient, effective and accessible credit market and industry, and to protect consumers.”
BORROWING MONEY
Capfin is a registered credit provider that strives to follow the Act and practice responsible lending with all its existing and potential customers. Therefore, allowing all our customers to fully understand the loan terms and conditions before making any financial commitments. A helpful idea is to draw up a detailed budget to assist in familiarising yourself with all your monthly expenses, managing your finances better and paying your creditors in full and on time. Each of our customers are responsible for the full payment of their loans, the additional charges, as well as the fees and interest. That’s why we advise all our customers to please ensure that they can afford the monthly charges that will accompany our loans as per the Capfin loan agreement.
DEBT PROBLEMS
Should you ever find yourself in a position where you are unable to meet your monthly financial commitments, we suggest that you immediately seek help. Below are a few options available if you ever find yourself in financial difficulty:
WHAT IS A CREDIT REPORT?
A credit report is a report done by a credit bureau to set out all your debt, financial obligations, court orders granted against you and any information related to outstanding payments submitted by other credit providers to the credit bureaus. You have the right to request a free copy of your credit report once a year from a registered credit bureau to ensure that all the information on the report is accurate. If you disagree with the information provided on your credit report, raise any concerns with the credit bureau which supplied you with the information.
COMPLAINTS PROCEDURE
Should you find yourself in a situation where you would like to file a complaint relating to any Capfin service, contact our customer service department at 087 354 0000.
Capfin ’s customer service department is dedicated to fully resolve your complaints and assist with your loan related enquiries as quickly as possible. If your complaint has still not been resolved to your satisfaction, you may contact the Credit Ombud or the National Credit Regulator and follow their complaints procedure.
| Organisation: | T: | E-mail: | Website: |
|---|---|---|---|
| Credit Ombud | 0861 662 837 | ombud@creditombud.org.za | www.creditombud.org.za |
| National Credit Regulator | 0860 627 627 / 011 554 2600 | complaints@ncr.org.za | www.ncr.org.za |
Whenever entering into a loan agreement, be sure to provide true and accurate information to the credit provider regarding your existing debt obligations.
To avoid additional interest; fees and legal costs being added to your outstanding debt, ensure you pay all your instalments on time.
It is important to remember that there is always a way to get help and relief when you feel overwhelmed by your debt and financial obligations. Therefore, we encourage you to use this information and contact the sources listed above for more information and assistance.