The interaction between the debt relief measures in the National Credit Act 34 of 2005 and aspects of insolvency law

dc.contributor.authorVan Heerden, C.M. (Corlia)
dc.contributor.authorBoraine, A. (Andre), 1957-
dc.date.accessioned2009-10-30T09:35:35Z
dc.date.available2009-10-30T09:35:35Z
dc.date.issued2009
dc.description.abstractOne of the main features of the National Credit Act, which came into full operation on 1 June 2007, is its objective to afford debt relief to over-burdened consumers. Otto remarks that the NCA is an ambitious, perhaps even idealistic, piece of legislation with pronounced socio-economic aims. The purpose of the NCA as stated in section 3 thereof is inter alia to promote responsibility in the credit market by encouraging responsible borrowing, avoidance of over-indebtedness and fulfilment of financial obligations by consumers, and to discourage reckless credit granting by credit providers and contractual default by consumers. It aims to address and prevent over-indebtedness of consumers and provides mechanisms for resolving over-indebtedness based on the principle of satisfaction by the consumer of all responsible financial obligations.en_US
dc.identifier.citationVan Heerden, C & Boraine, A 2009, 'The interaction between the debt relief measures in the National Credit Act 34 of 2005 and aspects of insolvency law', Potchefstroom Electronic Law Journal, vol. 12, no. 3, pp. 22-63. [http://www.puk.ac.za/fakulteite/regte/per/index.html]en_US
dc.identifier.issn1727-3781
dc.identifier.urihttp://hdl.handle.net/2263/11675
dc.language.isoenen_US
dc.publisherFaculty of Law, North West Universityen_US
dc.rightsFaculty of Law, North West Universityen_US
dc.subjectDebt relief measuresen_US
dc.subjectNational Credit Act 34 of 2005en_US
dc.subjectInsolvency lawen_US
dc.subject.lcshDebts, External -- South Africaen_US
dc.subject.lcshFinance -- Law and legislation -- South Africaen_US
dc.titleThe interaction between the debt relief measures in the National Credit Act 34 of 2005 and aspects of insolvency lawen_US
dc.typeArticleen_US

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