In terms of the National Credit Act, a "consumer" refers to any natural person or juristic person who enters into a credit agreement or is affected by the credit agreement. The Act applies to consumers who borrow money, purchase goods on credit, or have their goods or services provided to them on credit. The Act aims to protect consumers by promoting responsible lending practices and providing mechanisms for resolving disputes regarding credit agreements.
In the context of the National Credit Act, a "consumer" refers to an individual or a legal entity that engages in credit transactions with credit providers. The Act provides protection to consumers who borrow money, enter into credit agreements, or engage in any other credit-related activities. Being classified as a consumer under the National Credit Act affords individuals certain rights and safeguards to ensure fair and transparent credit practices are followed by credit providers.
