Briefly describe a "consumer" in terms of the National Credit Act

Answer 1

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.