Pre-agreement assessment as a responsible lending tool in South Africa, the EU and Belgium: Part 2

Responsible lending has become a very pertinent issue on the agenda of credit regulators across the globe who seek to combat the causes of consumer over-indebtedness. In this context the use of "pre-agreement assessment" as a tool to filter out those instances where, based on a consumer's creditworthiness or ability to repay, credit should not be granted to such a consumer, is a feature common to the lending regimes of various jurisdictions. This contribution consists of two parts: Part 1 provides a critical discussion of the reckless credit provisions of the National Credit Act 34 of 2005. Pa... Mehr ...

Verfasser: van Heerden, Corlia Maritha
Steennot, Reinhard
Dokumenttyp: Artikel
Erscheinungsdatum: 2018
Verlag/Hrsg.: Faculty of Law
North-West University
South Africa
Schlagwörter: responsible lending / reckless credit granting / pre-agreement assessment / affordability / creditworthiness
Sprache: Englisch
Permalink: https://search.fid-benelux.de/Record/base-28964743
Datenquelle: BASE; Originalkatalog
Powered By: BASE
Link(s) : https://perjournal.co.za/article/view/2954

Responsible lending has become a very pertinent issue on the agenda of credit regulators across the globe who seek to combat the causes of consumer over-indebtedness. In this context the use of "pre-agreement assessment" as a tool to filter out those instances where, based on a consumer's creditworthiness or ability to repay, credit should not be granted to such a consumer, is a feature common to the lending regimes of various jurisdictions. This contribution consists of two parts: Part 1 provides a critical discussion of the reckless credit provisions of the National Credit Act 34 of 2005. Part 2 details the responsible lending measures contained in the EU Consumer Credit Directive and the EU Mortgage Credit Directive and provides an appraisal of the responsible lending measures introduced by Belgium, being a jurisdiction that has always been very pro-active in the context of consumer credit protection.