At the end of last year Synovate released the results of their survey on the impact of the new National Credit Act (NCA) on ordinary South Africans. Synovate contacted 676 people in metropolitan areas to investigate perceptions of the NCA. Of those, 177 had never even heard of the law. The remaining 499 respondents had heard of the law and 41% believed they had been personally affected by the new law.
I would point to the fact that the very same Synovate also did a public survey prior to the appointment …

We have previously reported here, here and here on the numerous logistical, financial and poor drafting problems that are being faced in the introduction of debt counsellors in terms of the National Credit Act.
There have been rumours that the National Credit Regulator was trying to get the support of the major creditors to assist with debt counselling and it would appear that these efforts have come to fruition.
Business Day‘s Regis Nyamakanga reports that:
“LENDERS plan to launch a voluntary debt-mediation company in the next few weeks to assist the many consumers …

Bentley Attorneys and some of their clients once again enjoyed the annual Sharks’ breakfast at the Sibaya Casino on the 25th January 2008.
The event has become an annual tradition in which the legal sharks take some clients to a breakfast at which the rugby Sharks preview the up-coming season. This year it was as enjoyable as ever, being compeered by TV rugby commentator Hugh Bladen.
Bentley Attorneys were privileged this year to have new Shark and World Cup-winning Springbok prop Dr. Jannie Du Plessis seated with them at their table. He …

Getting payment from your consumer debtors under the National Credit Act
The seminar will be an overview for consumer creditors and their collection staff. This is a half day seminar in Johannesburg to be held on the 16th April 2008, at 8.30am for 9am. It is aimed at consumer creditors (businesses who supply private individuals on credit). It will cover the legalities in terms of the NCA and the law in general and also look at methods to ensure you run a successful consumer credit control department .

For more Information

Regis Nyamakanga of Business Day reports:
“SOUTH African banks continued to chalk up strong profit growth in the quarter to December despite ballooning household debt, Ernst & Young said in its quarterly bank index released yesterday.
Ernst & Young banking director Emilio Pera attributed this to stronger interest margins that helped offset lower credit demand, keeping banks’ profit growth at high levels.
“A rising interest rate environment usually serves to boost bank margins, particularly in the short to medium term, before bad-debt levels start to pinch,” he said.
Although there was an upsurge in …

“The very essence of leadership is that you have to have vision. You can’t blow an uncertain trumpet.”
Theodore M. Hesburgh

Wiseman Khuzwayo in Business Report:
“Auction warehouses are full of glittering 4x4s and expensive sedans, driving the message home to the previous owners the high price to be paid for over-indebtedness.
Yes, South Africans love debt and hate saving.
Household debt reached a record high of 77.4 percent of disposable income in the third quarter of last year, up from 49.8 percent in the fourth quarter of 2002.
It is boom time for the debt collecting industry. It now has 12 000 active, registered members, according to the Council for Debt Collectors.
In 2006 alone, …

GREGG THOMPSON across at Blue Point Leadership Development writes:
“Many of us who lead organizations go through a very similar routine this time of the year. We start by admonishing ourselves for the mistakes of the past year – the projects left undone and the opportunities not seized. We grit our teeth, clean off our desks, start a fresh notebook and resolve to make significant changes in the way we will work in the coming year. Year after year, the same resolutions are made:
1. I’ve just got to get organized. (“If …

Getting payment from your consumer debtors under the National Credit Act
The seminar will be an overview for consumer creditors and their collection staff. This is a half day seminar in Durban to be held on the 13th February 2008, at 8.30am for 9am. It is aimed at consumer creditors (businesses who supply private individuals on credit). It will cover the legalities in terms of the NCA and the law in general and also look at methods to ensure you run a successful consumer credit control department .
For more information

Nicola Mawson writes in Business Report:
“The effects of interest rate hikes, the National Credit Act and electricity load shedding on festive-season sales will become apparent this week as retailers start releasing sales figures.
Analysts expect sales growth to be muted in comparison with growth over the past few years as interest rate hikes place pressure on disposable income.
A recent Ernst & Young survey, in conjunction with the Bureau for Economic Research, predicted last year that fourth-quarter retail sales would not grow as much as in 2006, and retailers would come under …