069 062 2321 
Were You Sold a Debt You Couldn’t Afford? You Have Rights.
South Africa’s National Credit Act (NCA) protects consumers against reckless lending practices. If a credit provider extended credit to you without properly assessing your ability to afford it, you may have a valid claim for reckless lending — and you may be entitled to have that debt reduced, restructured, or even written off entirely.
What Is Reckless Lending?
Reckless lending occurs when a credit provider grants you a loan or credit facility without:
- Conducting a proper affordability assessment
- Verifying your income, expenses, and existing debt obligations
- Considering whether you can realistically afford the repayments without falling into hardship
Unfortunately, reckless lending is far more common in South Africa than many consumers realise. Credit providers — from major banks to microlenders — have, in many cases, prioritised profits over responsible lending practices.
At Sekela Financial Service, we conduct thorough and independent reckless lending investigations to determine whether your credit agreements were entered into lawfully:
We gather all relevant loan agreements, credit statements, and credit bureau reports.
We analyse whether the credit provider properly assessed your financial situation at the time the credit was granted.
We check whether the credit provider complied with all requirements of the National Credit Act, including the affordability assessment regulations.
If reckless lending is identified, we lodge a formal complaint with the credit provider and, if necessary, the National Credit Regulator or the National Consumer Tribunal.
We pursue the appropriate remedy, which may include:
- Reformation of the credit agreement (reducing the debt or adjusting terms)
- Reckless lending order from the National Consumer Tribunal
- Write-off of the debt entirely in extreme cases
- Consumers who were granted loans they clearly could not afford
- Those who were not asked to provide proof of income
- Individuals who have multiple loans granted in quick succession without affordability checks
- Anyone who suspects that a credit provider violated the National Credit Act
- Potential reduction or elimination of unlawful debt
- Holding credit providers accountable for irresponsible practices
- Empowerment through knowledge of your consumer rights
- Protection from further exploitation
- Potential compensation or debt write-off
"Many people don't realise that the debt weighing them down may have been granted unlawfully. A reckless lending investigation could change your entire financial situation."
No matter where you are in your financial journey, Sekela Financial Service is here to help. Contact us today for a confidential, no-obligation consultation and let us help you find the best path forward.
Phone: 069 062 2321
Email: help@sekelafinancial.co.za
Address: Pretoria and Country Wide
