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Reckless Lending: You Could Lose Everything
'One of the greatest disservices you can do a man is to lend him money that he can’t pay back.' (Jesse H. Jones, entrepreneur) A recent High Court decision provides yet another cautionary tale for lenders. The stakes are high: get this wrong, and you could lose everything. Two big risks for lenders Before you lend, be aware of two major risks that you need to manage. Both are imposed by the National Credit Act (NCA): Not registering as a credit provider: If you lend money wit
King-Essack & Associates
5 hours ago4 min read
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