NSC Business Studies Industrial Analysis Tools: State any FOUR consumer rights a

Question

State any FOUR consumer rights as stipulated in the National Credit Act (NCA), 2005 (Act 34 of 2005).

Consumers have a right to:
- Apply for credit and to be free from discrimination.
- Obtain reasons for credit being refused.
- Receive pre-agreement documentation before concluding any credit transaction.
- Fair and responsible marketing.
- Surrender goods to the credit provider in order to settle the outstanding amount.
- Apply for debt review/counseling if the consumers cannot afford to repay their debts.
- Receive understandable information.
- Receive documentation/estimates as required by the Act.
- Access and challenge credit records and information.
- Receive protection from being held accountable for the use of their credit facility after they reported the losses.

State any FOUR consumer rights as stipulated in the National Credit Act (NCA), 2005 (Act 34 of 2005) - NSC Business Studies - Question 4 - 2020 - Paper 1

Worked Solution & Example Answer:State any FOUR consumer rights as stipulated in the National Credit Act (NCA), 2005 (Act 34 of 2005) - NSC Business Studies - Question 4 - 2020 - Paper 1

Identify FOUR consumer rights as stipulated in the National Credit Act.

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