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NCT Rescission

In NCT case: NCT/252500/2022/165, a consumer made an unopposed application to the NCT for them to rescind their order for debt restructuring by means of a consent order.

A consent order of this type (via the NCT) is where a consumer and all their credit providers agree to a plan to avoid the consumer becoming over indebted.

In This Case

It seems that, in this particular case, the NCT was overeager in granting the consent order as the math at the time indicates that the consumer actually was already over indebted. As a result of that issue, the NCT was now able to rescind their past ruling as requested by the consumer.

 In the ruling, the NCT took time to explain that they are able to assist with consent matters for NCA S86(7)b matters and not NCA S86(7)c matters. If those numbers are meaningless to you then don’t stress. It simply relates to if consumers are already in deep financial difficulty or will soon be in such difficulty.

 A nice part of the ruling was where the NCT said that the various parties had the option to stick to their past reduced payment agreements if they wished (since everyone had been happy to do so).


The rescission is an interesting one but it may, technically, still leave the consumer with a debt review status or “flag” showing on their name at the credit bureaus* since they did actually apply for assistance via debt review before this order was granted. Which is something that needs to be flagged at the credit bureaus.

*Sometimes consumers try to get their court order for debt restructuring removed with the intent of going back to using credit while they still have other debts.

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