National Credit Act, 2005 (Act No. 34 of 2005)

Regulations

National Credit Regulations, 2006

Chapter 3 : Consumer Credit Policy

Part D : Over-indebtedness, reckless lending and debt counselling

26. Debt restructuring by court order
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(1)An application in terms of section 86(9) of the Act must be submitted to court within 20 business days after the debt counsellor has provided the consumer with a letter of rejection.

 

(2)The court may on application by the consumer and good cause shown, extend the 20 business day period.

 

(3) making an application as contemplated in section 86(9), a consumer must complete Form 18.