CREDIT BUREAU: a body that obtains, compiles and provide reports on credit agreements, applications, payment history or patterns, and so on. A credit bureau must be registered with the National Credit Regulator.

Debt Counselling

Debt counselling is the procedure in which an over-indebted consumer applies to court to have his/her debt re-arranged, for example, by reducing the monthly instalment amount and extending the period over which the outstanding balance is paid back to the credit provider.