Purpose: This notice serves to inform a Credit provider that the debt counsellor intends to investigate possible reckless credit and therefore request the creditor to provide the following documentation
- Copy of the Original Credit Application in the consumer’s handwriting, Copy of the ITC report at the time of application.
- Copy of the consumer’s salary advice at the time of application.
- Copy of the signed quotation and pre-agreement.
- Copy of a meaningful affordability assessment.
- Copy of the credit agreement.
- Copy of the full statement from inception date) in order for the debt counsellor to conduct a reckless lending assessment/investigation in terms of Sec 80 – 83 of the National Credit Act:
This recommendation will be made to court in terms of Sec 86(7)(c)(ii) as soon as documents from all parties involved in the investigation has been received and payments will be deferred in terms of Sec 84(1) & (2)(b) until the court has made a final ruling regarding the reckless credit investigation. Creditors are requested to provide these documents within 15 business days.
- NCA Section: It aligns with SECTION 80 – 84 OF THE NATIONAL CREDIT ACT 34 OF 2005. Read more about reckless lending investigations here
- Description: Debt counsellors use this form to notify relevant parties of the debt review process initiated by the consumer.
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