DON'T BE EXPLOITED BY UNSCRUPULOUS LENDERS
Personal Finance|April 2022
… and never agree to them keeping your ID or bank cards
ANNE-CARIEN DU PLOOY
DON'T BE EXPLOITED BY UNSCRUPULOUS LENDERS

CAN A credit provider take a consumer’s ID or cards when granting credit? This is the modus operandi adopted by some credit providers to enforce credit agreements entered into with consumers.

However, in terms of the National Credit Act, it is illegal for credit providers to retain consumers’ instruments such as identity documents (IDs), and bank cards when granting credit, and all credit providers illegally in possession of consumers’ personal instruments need to return them to the rightful owners.

Denne historien er fra April 2022-utgaven av Personal Finance.

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Denne historien er fra April 2022-utgaven av Personal Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

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