Under debt review and can’t afford to pay?

Cover image of the National Credit Act
Reading Time: 4 minutes

Through the years that debt review (or debt counselling) has been in our market, it has always been difficult for a consumer who genuinely cannot afford to pay their installment, to get assistance. When going under debt review, a court order is granted, and only the court can relax or vary the terms of the order. Even if the creditors, debt counsellor and consumer all agreed, you would still need to go to the court to change the order, otherwise, there is a default and the creditors will end up terminating.

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Maintaining Payment of Debt Review installments during the Coronavirus Crisis

Cover image of the National Credit Act
Reading Time: 2 minutes

Debt Review is a process governed by the laws of South Africa, specifically, the National Credit Act 34 of 2005.

Your Debt Counsellor has no power to “allow” you to reduce or not pay your installment. Even with the current crisis. You MUST continue to pay your installment in order to retain the protection of the Debt Review.

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