Responsible Lending & Credit Compliance
Lengau People's Society is registered with the National Credit Regulator under NCRCP22999 (stated as active on this website). Where credit is offered, it is subject to affordability assessment and responsible lending. This page does not advertise a product, interest rate, approval or guarantee. Credit offerings do not promise approval and do not promise funding.
Applicable South African law, including the National Credit Act where it applies, takes precedence over this page. Nothing here excludes a right that cannot lawfully be excluded.
Credit applications
An application is a request to be assessed. Submitting an application, attending a briefing, or being invited to submit a business plan does not create a right to credit and does not guarantee funding.
Affordability assessments
Where the National Credit Act applies, credit must not be granted recklessly. Affordability and related assessments must be conducted as required. Assessment does not guarantee a particular outcome.
Responsible lending
Credit and financial-support processes must be communicated honestly. Do not guarantee wealth, profits or financial outcomes that cannot reasonably be guaranteed. Lengau is not a bank and does not offer investment products.
Required disclosures
Material terms, costs, obligations and consequences of default should be explained in plain language before a consumer is asked to enter a credit agreement, to the extent the law requires.
Credit agreements
Where credit is granted, the agreement and pre-agreement statements required by law should be used. Website copy is not a credit agreement.
Interest and fees
Interest, fees and charges, where applicable, must be those permitted by law and the credit agreement. This page does not publish rates. Compulsory payments must not be described as donations.
Collections
Collections and enforcement, where applicable, must follow the credit agreement and applicable law. Harassment and unlawful collection methods are not permitted.
Consumer rights
Consumers may have rights under the National Credit Act, the Consumer Protection Act and other law depending on the transaction. See Consumer Protection.
Complaints
Credit-related complaints may be raised through Complaints. External bodies such as the National Credit Regulator may also be approached where the law provides.
Record keeping
Applications, assessments, agreements and related records should be retained as required by law and internal control. See Financial Control.
Regulatory compliance
NCR registration does not mean every activity on this website is a credit transaction. Applicability depends on the product, parties and agreement. Contact +27 60 709 4406. Also see lending information.