😞🏦💸South Africans battle debt woes with little legal protection😔 Financially vulnerable citizens face lending and debt collection abuses. DebtProblems FinancialStruggles TheCitizenNews FinanceNews Read the story⬇️
has confirmed that unjust debt collection practices have the potential to infringe constitutional guarantees, in addition to the right of access to courts, and the livelihood and dignity of low-income earners.
In 1999, the Micro Finance Regulatory Council was created to encourage increased access to credit for all South Africans, and to combat abuses. “The responsibility to realise the goals of transformative constitutionalism rests primarily on the shoulders of judges,” writes Van der Merwe. One of the most important cases fought in defence of debtors was Bayport Securitisation v University of Stellenbosch Law Clinic.
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