The interaction between the debt relief measures in the National Credit Act 34 of 2005 and aspects of insolvency law
dc.contributor.author | Van Heerden, C.M. (Corlia) | |
dc.contributor.author | Boraine, A. (Andre), 1957- | |
dc.date.accessioned | 2009-10-30T09:35:35Z | |
dc.date.available | 2009-10-30T09:35:35Z | |
dc.date.issued | 2009 | |
dc.description.abstract | One 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.citation | Van 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.issn | 1727-3781 | |
dc.identifier.uri | http://hdl.handle.net/2263/11675 | |
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 relief measures | en_US |
dc.subject | National Credit Act 34 of 2005 | en_US |
dc.subject | Insolvency law | en_US |
dc.subject.lcsh | Debts, External -- South Africa | en_US |
dc.subject.lcsh | Finance -- Law and legislation -- South Africa | en_US |
dc.title | The interaction between the debt relief measures in the National Credit Act 34 of 2005 and aspects of insolvency law | en_US |
dc.type | Article | en_US |