Ngele v Absa Bank Ltd and Another (NCT/ 297/2009/138 (1)(P)) [2010] ZANCT 25 (2 February 2010)

Ngele v Absa Bank Ltd and Another (NCT/ 297/2009/138 (1)(P)) [2010] ZANCT 25 (2 February 2010)

The Tribunal found that the applicant and respondents are parties to a debt rearrangement facilitated by a debt counsellor under the National Credit Act. All parties have consented to the restructuring agreement, which extends the payment periods and adjusts monthly instalments. The Tribunal is satisfied that the agreement complies with the requirements of the Act and confirms the draft consent order as an order of the Tribunal. The parties are warned that non-compliance with the order constitutes an offence under the Act.

Citation
[2010] ZANCT 25
Parties
Applicant: Leah Ngele; Respondent: Absa Bank Limited; Respondent: Relaynt Group (Pty) Ltd t/a Bears
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 February 2010
Case Number
NCT/ 297/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Determination
Outcome
Draft consent order 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

Leah Ngele

Applicant

Absa Bank Limited

Respondent

Relaynt Group (Pty) Ltd t/a Bears

Respondent

Procedural Posture

Consent Order Application / Final Determination

Legal Issues

  1. 1 Whether the parties have validly consented to a debt restructuring agreement under the National Credit Act.
  2. 2 Whether the Tribunal should confirm the draft consent order as an order of the Tribunal.
  3. 3 Whether the restructured payment terms are compliant with the National Credit Act.

Ratio Decidendi

The Tribunal found that the applicant and respondents are parties to a debt rearrangement facilitated by a debt counsellor under the National Credit Act. All parties have consented to the restructuring agreement, which extends the payment periods and adjusts monthly instalments. The Tribunal is satisfied that the agreement complies with the requirements of the Act and confirms the draft consent order as an order of the Tribunal. The parties are warned that non-compliance with the order constitutes an offence under the Act.

Court Disposition

Draft consent order confirmed as an order of the Tribunal.

Orders

  • The payment structures of the agreement between the applicant and respondents as set out in Annexure B are made an order of the National Consumer Tribunal.
  • The agreement restructures the payment instalments by extending the payment period as indicated in Annexure C.