Introduction
- Comply with the rules principles set out in Annexure D of the task team report.
- Provide substantial relief aimed at resolving as many as possible cases of severe over-indebtedness within a reasonable time frame (the rules aim at rehabilitating the consumer's situation within 60 months); and
- Carry the maximum level of credit provider consent if applied appropriately, in order to avoid the time delays, costs and other implications of contested court applications.
Debt counsellors in law at present can propose to the courts and the courts can impose the extension of repayment terms and deferment of repayments on certain debts to release affordability to settle other debts in order to enable the consumer to rehabilitate from a debt distressed situation.
The task team, given the realities in the market in the wake of the economic recession came to the conclusion that at present there is a need in the market for voluntary credit provider concessions in deserving cases that go beyond these adjustments allowed for in the Act and developed a set of proposed debt restructuring rules presented to industry.
The credit industry recognises that the market situation in South Africa at the moment necessitates the voluntary introduction of significant concessions on credit agreements affected in legitimate cases to enable the consumer to rehabilitate (if they honour the agreement reached).
Industry accordingly responsively engaged and developed a set of rules now broadly supported by the industry and the debt counsellors. These rules are aimed to:
The concessions are made on a voluntary basis and will therefore be subject to constant review and adjustment depending on the market response.
These rules will constitute an option available to debt review applicants through their debt counsellors.
NDRC Practice NoteLast reviewed 2026-04
Annexure D codifies the concessions credit providers have collectively agreed to apply when restructuring debt under a Section 48 industry code. It gives counsellors a template the major banks already accept, which shortens negotiation at proposal stage.
Statutory anchor: NCA s 48 (industry codes of conduct) read with s 86(7)(c)(ii) (rearrangement recommendations).
Drawn from NDRC's active case work. For your situation, see our debt counselling overview.
Cite this clause
National Credit Regulator. (2015). Annexure D — Consensual Debt Restructuring Rules, clause 1: Introduction. Guideline 001/2015 (Debt Review Task Team Agreements 2010), p. 62.