QUESTION 1 [50 MARKS] As a debt collector (much like a credit manager you must be familiar with credit-related concepts and definitions, and its management to be able to do your work effectively. This involves knowing and understanding credit processes, the legislation that affects it, and the type of impact that this has on you as a provider or debt collector. Define credit in your own terms and thoroughly examine any three types of credit that are offered by the organisation and demonstrate how these are directly affected by South African legislation. Give relevant examples that highlight how legislation affects each of these types of credit and show any difference or comparison between the three. Note: You will need to link your examination of these credit types to the process your company follows to deal with non-paying and customers who cannot pay because of unemployment amongst other factors. In your examination and examples, think of how the law protects the company and the customer