COSATU Urges President Ramaphosa to Urgently Sign the National Credit (Debt Relief) Amendment Bill into law
18 March 2019
COSATU applauds the National Council of Provinces for passing the progressive National Credit Amendment (NCA) Bill. The Federation is calling on the President to move with speed and sign the NCA Bill into law. Workers have for too long battled to cope with the ever rising levels of debt.
The NCA Bill seeks to provide urgent debt relief for thousands of the most highly indebted and impoverished workers and families. The NCA Bill provides for:
- Allow the unemployed, workers earning less than R7 500 per month and women and child headed households and homes with a person with a disability and debt under R50 000 to apply for varying forms of debt relief:
- Debt relief could come in the form of a 1 or 2 year interest free payment suspension;