Kubelo and Another v Absa Bank Ltd and Others (NCT/ 363/2009/138 (1)(P)) [2010] ZANCT 31 (2 March 2010)

Kubelo and Another v Absa Bank Ltd and Others (NCT/ 363/2009/138 (1)(P)) [2010] ZANCT 31 (2 March 2010)

The Tribunal found that the applicants had properly applied for debt review and that the debt counsellor had determined they were experiencing difficulty in meeting their obligations. The proposed payment plan was agreed to by all parties and complied with the requirements of the National Credit Act. The Tribunal was satisfied that the consent order should be confirmed, making the debt restructuring agreement an order of the Tribunal. The parties were warned that failure to comply with the order constitutes an offence under section 160(1) of the Act.

Citation
[2010] ZANCT 31
Parties
Applicant: John Lentile Kubelo; Applicant: Kelebogile Maria Kubelo; Respondent: Absa Bank Limited; Respondent: JDG Trading Financial Services; Respondent: Consumer Friend (Foschini, Truworths and Woolworths Accounts); Respondent: Standard Bank Limited
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 March 2010
Case Number
NCT/ 363/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Debt Rearrangement Order Under Section 86(7) and 138(1) of the National Credit Act
Outcome
Consent order for debt restructuring confirmed; payment plan made an order of the Tribunal.
Judges
Laura Best
Legal Topics
Debt Restructuring, National Credit Act, Consent Order, Debt Review, Consumer Protection
Banking and Finance Civil Procedure Debt Restructuring National Credit Act Consent Order Debt Review Consumer Protection

Case Brief

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Parties

John Lentile Kubelo

Applicant

Kelebogile Maria Kubelo

Applicant

Absa Bank Limited

Respondent

JDG Trading Financial Services

Respondent

Consumer Friend (Foschini, Truworths and Woolworths Accounts)

Respondent

Standard Bank Limited

Respondent

Procedural Posture

Consent Order Application / Debt Rearrangement Order Under Section 86(7) and 138(1) of the National Credit Act

Legal Issues

  1. 1 Whether the applicants qualify for debt restructuring under the National Credit Act.
  2. 2 Whether the consent order for debt rearrangement should be confirmed by the Tribunal.
  3. 3 Whether the parties have validly consented to the proposed payment plan.

Ratio Decidendi

The Tribunal found that the applicants had properly applied for debt review and that the debt counsellor had determined they were experiencing difficulty in meeting their obligations. The proposed payment plan was agreed to by all parties and complied with the requirements of the National Credit Act. The Tribunal was satisfied that the consent order should be confirmed, making the debt restructuring agreement an order of the Tribunal. The parties were warned that failure to comply with the order constitutes an offence under section 160(1) of the Act.

Court Disposition

Consent order for debt restructuring confirmed; payment plan made 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 set out in Annexure 'B' are made an order of the Tribunal.