National Credit Act, 2005 (Act No. 34 of 2005)RegulationsDebt Counselling Regulations, 20123. Application by a debt counsellor for confirmation of a consent order contemplated in section 86(8)(a), read with section 138 of the Act |
| (1) | An application by a debt counsellor for confirmation of a consent order contemplated in section 86(8)(a), read with section 138 of the Act, must be lodged in a manner and form prescribed by Rule 55 of the Magistrates Courts Rules, unless the court direct otherwise: provided that if the application is lodged with the Tribunal, the rules prescribed for the conduct of proceedings in the Tribunal shall apply. |
| (2) | An application referred to in regulation 3(1) above must, be substantiated by the debt counsellor through an affidavit supported by confirmatory affidavit from the affected consumer and each credit provider indicating that they have consented and agreed upon a plan of debt re-arrangement, which may include arrangements— |
| (a) | that one or more of the consumer's existing obligations be re-arranged by— |
| (i) | extending the period of the agreement and reducing the amount of each payment due accordingly; |
| (ii) | postponing the date on which payments are due under the agreement during a specific period; |
| (iii) | extending the period of the agreement and postponing during a specified period the dates on which payments are due under the agreement; or |
| (iv) | re-calculating the consumer's obligations because of contraventions of Part A or B of Chapter 5, or Part A of Chapter 6; and |
| (b) | regarding the manner in which payments must be made by the consumer and distributed amongst the affected credit providers. |
| (3) | The debt counselor must collect a copy of the court order from the clerk of the court and deliver it within five (5) working days from the date of issue to the affected consumer and each credit provider. |
| (4) | The credit provider must comply and implement the terms of the court order within Ten (10) working days of receipt thereof. |