Pre-agreement assessment as a responsible lending tool in South-Africa, the EU and Belgium : Part 1
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Date
Authors
Van Heerden, C.M. (Corlia)
Steennot, Reinhard
Journal Title
Journal ISSN
Volume Title
Publisher
Academy of Science of South Africa
Abstract
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.
Description
Keywords
Responsible lending, Reckless credit granting, Pre-agreement assessment, Affordability, Creditworthiness, European Union (EU), Belgium
Sustainable Development Goals
Citation
Van Heerden C.M. and Steennot R. "Pre-Agreement Assessment as a Responsible Lending Tool in South-Africa, the EU and Belgium: Part 1" PER / PELJ 2018(21) - DOI http://dx.DOI.org/ 10.17159/1727-3781/2018/v21i0a2950.