It is illegal for credit providers to keep consumers’ bank cards, Sassa cards and identity documents to enforce credit agreements, Tembisan reports.
The National Credit Regulator urges consumers to collect these documents from credit providers.
Nomsa Motshegare, CEO of the National Credit Regulator (NCR), said it was illegal and also a criminal offence for credit providers to retain such documents.
She urged consumers to report such matters to the police and NCR.
Between January and March this year, the NCR conducted six raids with the police where five criminal cases were opened. During these raids, 411 bank, SASSA cards and 37 consumer instruments (identity documents, passports and driver’s licences) were seized, said Motshegare.
“As we head towards elections, all credit providers are instructed to desist from retaining consumers’ cards and identity documents and should return them to the owners. In addition, consumers must avoid credit providers who require them to hand over their identity documents or cards before they get credit, as this is usually coupled with reckless lending and overcharging,” she added.
