National Credit Act, 2005 (Act No. 34 of 2005)Chapter 6 : Collection, Repayment, Surrender and Debt EnforcementPart C : Debt enforcement by repossession or judgment132. Compensation for credit provider |
| (1) | A credit provider who has unsuccessfully attempted to resolve a dispute over the costs of attachment of property in terms of section 129 to 131 directly with the consumer, and through alternative dispute resolution under Part A of Chapter 7, may apply to the court for compensation from the consumer in respect of any costs of repossession of property in excess of those permitted under section 131. |
| (2) | The court may grant an order contemplated in subsection (1) if it is satisfied that— |
| (a) | the consumer knowingly— |
| (i) | provided false or misleading information to the credit provider in terms of section 97; or |
| (ii) | engaged in a pattern of behaviour that was reasonably likely to frustrate or impede the exercise of the credit provider’s right to repossess property under section 129 to 131; and |
| (b) | as a result, the credit provider experienced unreasonable delay or incurred exceptional costs in the exercise of those rights. |