Covering Report
    3.1.1.3
    Covering Report
    p. 10

    It is not to the advantage of either credit providers or ove

      It is not to the advantage of either credit providers or overindebted consumers for a large number of debt review cases to drag on for years. Such a state of affairs poses a systemic risk to the financial system and is contrary to the intention of the National Credit Act of speedily getting overindebted consumers back on their feet and into the economy.

    Cite this clause

    National Credit Regulator. (2015). Covering Report, clause 3.1.1.3: It is not to the advantage of either credit providers or ove. Guideline 001/2015 (Debt Review Task Team Agreements 2010), p. 10.
    Based on NCR Guideline 001/2015, p. 10. For NDRC's interpretation and application, see our debt counselling overview. Download original PDF.