Download Report On Mashonisas
Thousands of illegal credit providers operate country wide informally without being registered with the National Credit Regulator (NCR) who are engaged in a battle to prevent loan sharks from abusing consumer’s rights.
Wonga (who are an award-winning NCR registered credit provider), recently commissioned a report into how widespread the practice of loan sharks/mashonisas really is. The statistics will surprise and horrify you.
DOWNLOAD THE REPORT
The report clearly shows that South Africans love to borrow money and spend what they do not yet have. The illegal lending market is flourishing even as the NCR continue to work with the SAPS to try to shut it down and stop consumer abuses (like taking cards and ID books).
40 000 Unregistered Credit Providers? If you lend money to others (for profit) then that means you are a credit provider and as such should be registered with the National Credit Regulator (NCR). At present, the NCR has around 6000 … read more
One Way To Graceland The recently released movie One Way To Graceland tackles the topics of debt and finances in a clever attempt to help consumers become more financially literate. While many consumers find the prospect of learning and financial … read more
NCR & Police Raid Credit Providers The National Credit Regulator (NCR) and South African Police Services (SAPS) began June with a series of raids on various credit providers in Grahamstown, Somerset East, Fort Beaufort and Humansdorp. The NCR is tasked … read more
Consumer Friend & Bitech Announce Integration Between DReX & Simplicity. Consumer Friend is a company that assists various big credit providers with their debt review process. They are a multiple award-winning company that has taken the lead in regard to … read more
Consumer Friend Offers Way To Handle POPI Act Complications The Protection of Personal Information Act (POPOI Act) is soon coming into effect and will influence how consumers, credit providers and Debt Counsellors exchange information. In part, it will make it … read more
2018 Debt Review Awards Winners This year well over 50 companies and individuals were recognised in the Peer Review Process Awards. The increase in numbers is in part due to feedback we received from the industry. This year not only … read more
Debt Review Awards 2018 – Fun & Excitement The Debt Review Awards Gala was held on the 2nd of June 2018 and was the scene of much excitement and laughter. Though the evening in a serious affair with various presentations … read more
Debt Review Awards 2018 – Presenters and Speeches The Annual Debt Review Awards was held this year at the River Club in Cape Town. The host for the evening was Mr. Rob Van Vuuren (who is famous for his portrayal … read more