SERI welcomes judgment which throws lifeline to credit consumers

21 April 2016 - 16:56 By Ernest Mabuza

The Socio Economic Rights Institute (SERI) on Thursday welcomed a Constitutional Court judgment which has thrown a lifeline to distressed credit consumers. The court held that consumers who fell into arrears with their loan repayments could reinstate their credit agreement by bringing their accounts up to date‚ even after a bank had obtained judgment for the full amount they had borrowed.

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