![]() ![]() The argument is made that the contractual and security rights of credit providers amount to "property" for the purposes of section 25(1) of the Constitution of the Republic of South Africa, 1996 (the property clause) and that, to some degree or another, each of these remedies involves a "deprivation" (limitation or modification) of the creditor provider's rights (property). This article investigates these remedies with a focus on the effect that they would have on a credit provider under a mortgage agreement. Depending on the circumstances, these remedies are the partial or full setting aside of the consumer's rights and obligations under the agreement the temporary suspension of the effect of the agreement and the restructuring of the consumer's obligations. The National Credit Act 34 of 2005 prohibits the granting of reckless credit and also provides for certain remedies that courts can grant to consumers who have fallen victim to reckless lending practices. ![]() The National Credit Act's Remedies for Reckless Credit in the Mortgage Context ![]()
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