Articles

Interest and the NCA

Are you running the risk of being fined for the incorrect interest calculation applied by your software? With the implementation of the National Credit Act in 2006, came a different manner of calculating interest on outstanding balances of debtors. Gone were the days...

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What? Interest on Interest?!

The National Credit Act has brought about a number of changes to the legislation governing debt, credit granting and the recovery of outstanding debt in South Africa. The changes brought about by the National Credit Act have been the subject of many debates across the...

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Section 103 vs In Duplum Rule

The In Duplum Rule is dead!   - Long Live the In Duplum Rule! In the recent Nedbank v The National Credit Regulator, Judge Malan clarifies the position around the In Duplum Rule and confirms the declaratory order previously given by Judge du Plessis relating to it....

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Distribution of funds

Does your software distribute money collected correctly and what are your risks? Section 126(3) of the National Credit Act deals with the allocation of payments received from debtors and expressly provides as follows: (3) A credit provider must credit each payment...

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Know your software before you buy

... manage your staff after you buy it How many readers have bought software for their debt collection business believing that it would do away with all the problems that the business experiences only to find that things have not improved after the installation of the...

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Nothing more can be invented

In 1899 Charles H. Duell, the then-Commissioner of the United States Patent Office said: Everything that can be invented, has been invented Looking back, the world cries with laughter. What a mistake!!! Charles Duell's quote from 1899 is now regarded as one of the...

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