De Beer v Absa Bank and Others (NCT/ 432/2009/138 (1)(P)) [2010] ZANCT 29 (2 March 2010)

De Beer v Absa Bank and Others (NCT/ 432/2009/138 (1)(P)) [2010] ZANCT 29 (2 March 2010)

The Tribunal found that the applicant and respondents are parties to a debt rearrangement agreement facilitated by a debt counsellor in terms of section 86(7) and section 138(1) of the National Credit Act. All parties consented to the restructuring of payment installments, and the agreement was properly documented and attached to the application. The Tribunal was satisfied that the requirements for a consent order were met and confirmed the draft consent order as an order of the Tribunal. The parties were warned that non-compliance with the order constitutes an offence under section 160(1) of the Act.

Citation
[2010] ZANCT 29
Parties
Applicant: Jan Charles Willem de Beer; Respondent: Absa Bank Limited; Respondent: lemas (Co-Op) Limited; Respondent: Nedbank Limited; Respondent: Wesbank
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 March 2010
Case Number
NCT/ 432/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Determination
Outcome
Consent order granted confirming the debt restructuring agreement between the applicant and respondents.
Judges
Laura Best
Legal Topics
National Credit Act, Debt Restructuring, Consent Order, Debt Review, Consumer Protection
Banking and Finance Civil Procedure National Credit Act Debt Restructuring Consent Order Debt Review Consumer Protection

Case Brief

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Parties

Jan Charles Willem de Beer

Applicant

Absa Bank Limited

Respondent

lemas (Co-Op) Limited

Respondent

Nedbank Limited

Respondent

Wesbank

Respondent

Procedural Posture

Consent Order Application / Final Determination

Legal Issues

  1. 1 Whether the applicant qualifies for a debt rearrangement order under the National Credit Act.
  2. 2 Whether the consent order restructuring payment obligations is valid and enforceable against all respondents.
  3. 3 Whether the parties have complied with the requirements for a consent order under section 86 and 138 of the National Credit Act.

Ratio Decidendi

The Tribunal found that the applicant and respondents are parties to a debt rearrangement agreement facilitated by a debt counsellor in terms of section 86(7) and section 138(1) of the National Credit Act. All parties consented to the restructuring of payment installments, and the agreement was properly documented and attached to the application. The Tribunal was satisfied that the requirements for a consent order were met and confirmed the draft consent order as an order of the Tribunal. The parties were warned that non-compliance with the order constitutes an offence under section 160(1) of the Act.

Court Disposition

Consent order granted confirming the debt restructuring agreement between the applicant and respondents.

Orders

  • The payment structures set out in Annexure 'B' are made an order of the National Consumer Tribunal.
  • The agreement restructures the payment installments by extending the payment periods as indicated in Annexure 'B'.