NCT Motion Court In KZN
The National Consumer Tribunal (NCT) is empowered to deal with debt review consent matters in terms of NCA Section 86(7)(b) for debt review. Next week, from the 8th till the 10th the NCT will be in KZN hearing such matters.
A Consent Order
While it is not always possible, most Debt Counsellors try to find a restructuring proposal which allows for the consumers to pay a reasonable amount each month to each credit provider, over a term that they are happy with. Though each credit provider would like to see slightly different things, most credit providers like proposals over 60 months (for unsecured credit) or less.
When a credit provider is happy with a proposal they receive they send a letter saying so. This is then included in documents submitted to the NCT with an application asking for a consent order. This is only possible where all the credit providers included in the debt review agree with the proposal the Debt Counsellor makes.
‘This is only possible where all the credit providers included in the debt review agree with the proposal the Debt Counsellor makes’
Where consent is not possible because of a credit provider wanting something that the consumer cannot pay or wanting funds that the Debt Counsellor suggests are rather allocated to another credit provider/s then the matter can be submitted to a local Magistrates Court. This court can then make an order restructuring the debt even though not everyone is happy with the arrangement.