dc.contributor.author |
Van Heerden, C.M. (Corlia)
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dc.contributor.author |
Coetzee, Hermie
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dc.date.accessioned |
2011-08-08T06:26:58Z |
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dc.date.available |
2011-08-08T06:26:58Z |
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dc.date.issued |
2011 |
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dc.description.abstract |
The National Credit Act 34 of 2005 (the NCA) aims to address and prevent the over-indebtedness of consumers and to provide mechanisms for resolving over-indebtedness based on the principle of satisfaction by the consumer of all his obligations. In this regard it provides inter alia for the mechanism of debt review, during which a debt counsellor reviews the debt situation of a consumer in order to determine if the consumer is over-indebted and to attempt to assist the consumer in obtaining debt relief in the form of a consensual debt re-arrangement agreement or court-ordered debt re-structuring. A pending debt review has serious consequences. It bars a consumer from entering into further credit agreements and creates a moratorium on debt enforcement by the credit provider. However, a debt review in terms of section 86 does not end or lapse automatically if a specific event fails to occur or upon the expiry of a specific time period. Before a credit provider can enforce a credit agreement that is the subject of a pending debt review, the debt review must be terminated in accordance with section 86(10) and certain other requirements must be met.
If a debt review is incorrectly terminated in accordance with section 86(10), the enforcement proceedings instituted thereafter will be unlawful and premature. In practice the debt review process - and specifically the termination thereof - are problematic as there appears to be uncertainty, as a result of the sparse provisions of section 86(10), regarding exactly when a debt review can be terminated. Uncertainty exists regarding the scope of a debt review and whether it should be afforded a narrow or broad interpretation, which will inevitably affect the cut-off date for termination. This article attempts to address some of these issues. |
en |
dc.description.uri |
http://www.puk.ac.za/fakulteite/regte/per/index.html |
en_US |
dc.identifier.citation |
Van Heerden, C & Coetzee, H 2011, 'Perspectives on the termination of debt review in terms of section 86(10) of the National Credit Act 34 of 2005', Potchefstroom Electronic Law Journal, vol. 14, no. 2, pp. 37-65. |
en |
dc.identifier.issn |
1727-3781 |
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dc.identifier.other |
10.4314/pelj.v14i2.2 |
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dc.identifier.uri |
http://hdl.handle.net/2263/17016 |
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dc.language.iso |
en |
en_US |
dc.publisher |
Faculty of Law, North West University |
en_US |
dc.rights |
Faculty of Law, North West University |
en_US |
dc.subject |
Debt review |
en |
dc.subject |
Credit agreements |
en |
dc.subject |
National Credit Act 34 of 2005 |
en |
dc.subject.lcsh |
Credit -- Law and legislation -- South Africa |
en |
dc.title |
Perspectives on the termination of debt review in terms of section 86(10) of the National Credit Act 34 of 2005 |
en |
dc.type |
Article |
en |