Covering Report
    3.1.5.1
    Covering Report
    p. 13

    There are indications that a growing number

      There are indications that a growing number of consumers are abusing the debt counselling process and using debt counselling as an excuse for not meeting their payment obligations. It is not the intention of the Act to protect such individuals, as this behaviour is creating significant risk to mortgage banks in particular and is promoting a culture of non-payment, even amongst high income consumers.

    Cite this clause

    National Credit Regulator. (2015). Covering Report, clause 3.1.5.1: There are indications that a growing number. Guideline 001/2015 (Debt Review Task Team Agreements 2010), p. 13.
    Based on NCR Guideline 001/2015, p. 13. For NDRC's interpretation and application, see our debt counselling overview. Download original PDF.