How do I identify reckless lending?

It's important to understand your rights and the options available to you when faced with such challenges.

In today's financial landscape, many individuals find themselves struggling with debt. If you took out credit after 2007 and have fallen into arrears, you may have been a victim of reckless lending. It's important to understand your rights and the options available to you when faced with such challenges.

Credit providers are legally obligated to conduct affordability assessments to ensure that borrowers can manage repayments on their debt. If you find yourself in arrears despite no change in your financial circumstances, it's possible that the credit provider could be at fault. In such cases, you may have the opportunity to have the court declare the credit agreement as a case of reckless lending. This could potentially lead to the debt being written off, relieving you of the obligation to repay it.

At Libertine Consultants, we understand the complexities of debt and are here to offer judgment-free support and advice. If you have questions about your current debt situation or require assistance and advice, our team is readily available to help.

Feel free to reach out to us with your inquiries via email at advisors@libertineconsultants.co.za. We are committed to providing sound insights to guide you towards the best possible solutions.

For additional guidance on managing financial stress, we encourage you to stay informed by following our YouTube channel. Our practical advice can help you navigate the challenges posed by the ongoing pandemic.

Remember, you are not alone in your financial journey. We are here to assist you every step of the way.