The National Credit Regulator (NCR) has warned the public about unregistered credit provider Charis Financial Services.
The NCR warned consumers against loans extended by the Pietermaritzburg credit provider, saying they are unlawful and may be void due to the fact that they are not a registered credit provider.
“Credit providers are reminded that as of October 2016, any person or entity that is involved in the provision of credit is required to be registered irrespective of the number of agreements and/or the value of the principal debt,” said manager of Investigations and Enforcement at the NCR, Jacqueline Peters.
Peters urged consumers to ensure that they only apply for credit from credit providers who are registered with the NCR.
“If a consumer is unsure or in doubt about the legitimacy of the credit provider or a credit agreement, they should contact the NCR on (011) 554-2600/2700 or visit www.ncr.org.za,” said Peters.
Established under the National Credit Act, the NCR is responsible for the regulation of the South African credit industry.
Peters said the regulator will continue to monitor unregistered entities around the country and will bring applications to the National Consumer Tribunal to have credit agreements concluded by unregistered entities declared unlawful.
The NCR is an agency of the Department of Trade and Industry (dti). – SAnews.gov.za