tesliejoubert88 tesliejoubert88
  • 02-03-2020
  • Business
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Justify the effectiveness of the national credit act ,2005 on businesses

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zitterkoph
zitterkoph zitterkoph
  • 02-03-2020

Answer:

The Act was introduced to: promote a fair and non-discriminatory marketplace for access to consumer credit

Explanation:

The National Credit Act was enacted on the premise that consumers need to be protected from this practice. The Act thus exerts pressure on the credit lenders to assess the consumer's ability to repay, disclose the cost of credit, as well as setting limit on interest that can be charged.

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