The National Credit Act (“NCA”) while well intentioned, is proving to be one of the most poorly thought out and drafted pieces of legislation in this country.
However the government seems to be back tracking on one of the more controversial aspects of the legislation, namely the fact that it is drafted to be effective retrospectively. The effects of this would have been mind boggling and unjust with the possibility that agreements that we entered to a number of years back with no knowledge or foresight of the NCA being held …

I have previous written on the question of Credit Application forms but I must point you to a short article posted on Bentley Attorneys website as the importance of having a sound credit application at the moment can not be stressed too much.