Bisschoff and Another v Absa Bank Ltd and Others (NCT/ 293/2009/138 (1)(P)) [2010] ZANCT 18 (2 February 2010)

Bisschoff and Another v Absa Bank Ltd and Others (NCT/ 293/2009/138 (1)(P)) [2010] ZANCT 18 (2 February 2010)

The Tribunal found that the applicants are experiencing difficulty in meeting their credit obligations and that the debt counsellor's recommendation for restructuring payment installments is reasonable and compliant with the National Credit Act. All parties, including the credit providers, have consented to the agreement. The Tribunal is satisfied that the requirements of section 86(7)(b) and section 138(1) of the Act have been met. Accordingly, the Tribunal confirms the draft consent order, making the debt restructuring agreement an order of the Tribunal. The parties are warned that non-compliance with the order constitutes an offence under section 160(1) of the Act.

Citation
[2010] ZANCT 18
Parties
Applicant: Adriaan Bisschoff; Applicant: Lillian Bisschoff; Respondent: Absa Bank Limited; Respondent: African Bank Limited; Respondent: Consumer Friend (Truworths Account)
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 February 2010
Case Number
NCT/ 293/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Debt Rearrangement Order Under the National Credit Act
Outcome
Consent order granted; debt restructuring agreement confirmed as an order of the Tribunal.
Judges
F. Manamela
Legal Topics
Debt Restructuring, National Credit Act, Consent Order, Debt Review
Banking and Finance Civil Procedure Debt Restructuring National Credit Act Consent Order Debt Review

Case Brief

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Parties

Adriaan Bisschoff

Applicant

Lillian Bisschoff

Applicant

Absa Bank Limited

Respondent

African Bank Limited

Respondent

Consumer Friend (Truworths Account)

Respondent

Procedural Posture

Consent Order Application / Debt Rearrangement Order Under the National Credit Act

Legal Issues

  1. 1 Whether the Tribunal should confirm the debt rearrangement agreement as a consent order under the National Credit Act.
  2. 2 Whether the parties have validly consented to the proposed debt restructuring.
  3. 3 Whether the payment terms comply with the requirements of the National Credit Act.

Ratio Decidendi

The Tribunal found that the applicants are experiencing difficulty in meeting their credit obligations and that the debt counsellor's recommendation for restructuring payment installments is reasonable and compliant with the National Credit Act. All parties, including the credit providers, have consented to the agreement. The Tribunal is satisfied that the requirements of section 86(7)(b) and section 138(1) of the Act have been met. Accordingly, the Tribunal confirms the draft consent order, making the debt restructuring agreement an order of the Tribunal. The parties are warned that non-compliance with the order constitutes an offence under section 160(1) of the Act.

Court Disposition

Consent order granted; debt restructuring agreement confirmed as an order of the Tribunal.

Orders

  • The draft consent order attached as Annexure 'A' is confirmed as an order of the Tribunal.
  • The payment structures and extended payment periods set out in Annexure 'B' are made an order of the Tribunal.