What Happens when Debt Review is terminated?

Published by The National Debt Review Center on

Section 88 (3) of the National Credit Act (NCA), provides that a creditor may not take legal action to enforce a credit agreement if the consumer has already applied for debt review and the application has been accepted and the consumer has been declared over-indebted.

This provision only applies while the consumer is under debt review.

As soon as the consumer’s debt review is terminated, creditors have the right to take legal action to enforce a credit agreement that was previously subject to debt review, typically calling upon the consumer to settle any arrears that may have accumulated on the account and reverting to the original initial contractual repayment amount.

Got More Questions? We have gathered the most frequently asked questions about exiting debt review here.

Book your Free Consultation with The National Debt Review Center

Book An Appointment With Personnel Calendar Using Setmore

Debt Review App
Debt Review Removal Cost
Original Installment New Installment 2

USE THE BELOW DEBT REVIEW REMOVAL FORM TO APPLY FOR YOUR DEBT REVIEW REMOVAL ONLINE

What Is A Form 17.1 Debt Review

NDRC Facebook Page

Know the debt review removal process.

The National Debt Review Center

The National Debt Review Center

Welcome to The National Debt Review Center, where financial stability and integrity are our guiding principles. We strive to deliver the utmost best in customer service & act with the highest standards of integrity.We are South Africa's best Debt Counselling & Debt Review Removal Company.NCR Registration Number - NCRDC3106

0 Comments

Leave a Reply

Avatar placeholder

Your email address will not be published. Required fields are marked *