http://www.creditmanagement.co.za/ncr-task-team-had-heated-debates-with-bankers/ Wed, 20 Apr 2011 13:31:34 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.creditmanagement.co.za/ncr-task-team-had-heated-debates-with-bankers/#comment-37524 Lethabo Seboni Sat, 02 Oct 2010 07:07:29 +0000 http://www.creditmanagement.co.za/?p=542#comment-37524 I would not agree more with the findings of the task team. To a greater extent they are correct but they seem to be touching on upper surface of isssues. there is endless court applications and judgements on interpretation of certain clauses of the act i.e Section 127, 129 and section 86c and 87. I am suprised that the task team persecute consumers for abusing the debt counselling process whereas we have a situation of reckless lending which has been overlooked. We have a consumer facing a situation where there was a suspensive condition on her approval for vehicle finance that she settles her other motor vehicle account with another finance institution and suprisingly this condition was not met and yet the institution went on to release the funds to the dealer. The consumer is now facing difficulties in paying her debt and the said finance house does not want to accept responsibility. There is also chaos at the NCR I would not agree more with the findings of the task team. To a greater extent they are correct but they seem to be touching on upper surface of isssues. there is endless court applications and judgements on interpretation of certain clauses of the act i.e Section 127, 129 and section 86c and 87. I am suprised that the task team persecute consumers for abusing the debt counselling process whereas we have a situation of reckless lending which has been overlooked. We have a consumer facing a situation where there was a suspensive condition on her approval for vehicle finance that she settles her other motor vehicle account with another finance institution and suprisingly this condition was not met and yet the institution went on to release the funds to the dealer. The consumer is now facing difficulties in paying her debt and the said finance house does not want to accept responsibility. There is also chaos at the NCR

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