NCR to educate deaf about credit act

JOHANNESBURG - Twenty-eight deaf people will be trained in order to educate the public, specifically deaf people, about debt and credit, the National Credit Regulator said on Monday.

NCR senior manager Peter Setou said the people would attend a two-day “Train the Trainer” programme on the National Credit Act, the NCR and personal finance management.

DeafSA was managing the implementation of the first phase of the project and the organisation had hired the Sign Language Interpreters Association to allow the trainer and the trainees to communicate easily.

The second phase of the project would focus on training the people to become debt counsellors so they could render services to their communities.

Setou said the NCR was committed to deepening and enhancing the understanding of all South Africans concerning the National Credit Act.

He highlighted that the NCR had been tasked with developing an accessible credit market for South Africa, which included improving accessibility to the National Credit Act and other services.

DeafSA Project Manager Michael Masalesa praised the project and said deaf people would be informed and empowered to make the right financial decisions and choices.

He said the project would help to ensure that deaf people had access to the credit market.

The National Credit Act took effect in 2006 and was aimed at regulating the credit industry, curbing reckless lending and ensuring that consumers were protected from harmful business practices of lenders.

The Act regulated mortgages, overdrafts, credit cards, vehicle finance and personal finance loans from banks.

It also regulated retail credit, micro-loans, pawn-transactions and any other type of credit or loan provided to a consumer, Setou said.

- Sapa