February 3 2011 at 10:55

FOR the past five years, South African consumers have been protected by laws designed to stop them getting too deeply into debt. No doubt legislators had in mind naive borrowers who genuinely overestimated their capacity to repay a loan or were bullied by sales staff with an eye to commission.

But since the law came into effect, courts have also seen more financially literate consumers trying to use this legislation to stop creditors taking action when they aren't paid what they are owed.

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