NCR | Protecting consumers from unregulated credit provicers

Consumers have been warned to ensure that they do not borrow money from one of the 4 000 credit providers whose registration with the National Credit Regulator has lapsed.These providers are now operating illegally and often charge exorbitant interest, impose hidden and often illegal fees and use dubious collection practices. With steep cost of living continuing to bite, some consumers find themselves at the mercy of credit providers who sometime are not legal. To find out how you can protect yourself Leonie va Pletzen the CEO of MicroFinance South Africa joins us.. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.