COL3704 ASSIGNMENT 3
CORRECT ANSWERS
SEMESTER 2 2024 DUE
DATE 2024.
QUESTION 1 Create a mind map of the functions that the National Credit Regulator is legislated
to perform.  (5) SECTION B: DEBT COLLECTORS ACT 114 OF 1998 QUESTION 2 On 1
September 2024, Alvereen borrows R15 000 from DEF B...
COL3704 ASSIGNMENT 3
CORRECT ANSWERS
SEMESTER 2 2024 DUE
DATE 2024.
QUESTION 1 Create a mind map of the functions that the National Credit Regulator is legislated
to perform.  (5) SECTION B: DEBT COLLECTORS ACT 114 OF 1998 QUESTION 2 On 1
September 2024, Alvereen borrows R15 000 from DEF Bank and agrees to repay the loan in 11
monthly payments of R1 500 each starting 1 December 2019. Alvereen makes six consecutive
payments and then stops paying. Despite the best efforts of the bank, the bank is unable to collect
the outstanding debt and Alvereen’s debt is handed over to a debt collector on 1 January 2024.
The last time that Alvereen acknowledged the debt was on 1 December 2020. Fully explain
whether the debt collector is able to collect this debt. (5) SECTION C: THE CONSUMER
PROTECTION ACT 68 OF 2008 QUESTION 3 List FOUR (4) instances where the Consumer
Protection Act will not apply. (4) QUESTION 4 Your local newspaper is delivered to you every
week at your residence. In the latest newspaper there is a catalogue whereby you can order a set
of dinner plates, and you can place your order telephonically. You decide to place your order
telephonically. You did not have the opportunity to inspect the dinner set before entering into the
agreement. List the information the supplier must give you before they enter into such an
agreement with you. (6) SECTION D: CONSUMER GROUPINGS
, QUESTION 1
Create a mind map of the functions that the National Credit Regulator is legislated to perform. 
(5)
Here's a simple mind map of the functions of the National Credit Regulator:
National Credit Regulator Functions
Monitor and enforce compliance with the National Credit Act
o Conduct investigations
o Impose administrative fines
Register credit providers, credit bureaus, and debt counselors
Educate consumers about their rights and obligations
Research and policy development
Consumer complaints resolution
Industry reporting and analysis
Promotion of access to credit
Development of industry codes of conduct and best practices
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