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Consumers score big as collecting old debt is illegal

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Cape Town - Amendments to the National Credit Act making it illegal to collect prescribed debt has contributed to the big drop in civil summonses and judgments for debt, James O’Haughey, CFO of Intelligent Debt Management Group, told Fin24 in a studio interview.

"The National Credit Regulator has been quite active in the industry," he said.

The latest figures from Stats SA showed that the total number of civil summonses issued for debt decreased by 13.4% in the first quarter of 2016 compared with the first quarter of 2015.

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