Smida v ABSA Bank Ltd and Others (NCT/ 256/2009/138 (1)(P)) [2010] ZANCT 4 (14 January 2010)

Smida v ABSA Bank Ltd and Others (NCT/ 256/2009/138 (1)(P)) [2010] ZANCT 4 (14 January 2010)

The Tribunal found that the applicant had applied for debt review in terms of the National Credit Act and that the debt counsellor had determined the applicant was experiencing difficulty in meeting his credit obligations. The debt counsellor recommended a restructuring of payment installments, and all parties consented to the agreement. The Tribunal was satisfied that the requirements of sections 86(7) and 138(1) of the Act were met and confirmed the draft consent order as 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 4
Parties
Applicant: Janos Bela Smida; Respondent: ABSA Bank Limited; Respondent: Standard Bank of SA Limited; Respondent: Sanlam Personal Loans (Pty) Ltd
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
14 January 2010
Case Number
NCT/ 256/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Order
Outcome
Consent order granted confirming the debt restructuring agreement between the applicant and respondents.
Judges
Tanya Woker
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

Janos Bela Smida

Applicant

ABSA Bank Limited

Respondent

Standard Bank of SA Limited

Respondent

Sanlam Personal Loans (Pty) Ltd

Respondent

Procedural Posture

Consent Order Application / Final Order

Legal Issues

  1. 1 Whether the applicant qualifies for a debt re-arrangement under the National Credit Act.
  2. 2 Whether the parties have consented to the proposed debt restructuring agreement.
  3. 3 Whether the Tribunal should confirm the draft consent order as an order of the Tribunal.

Ratio Decidendi

The Tribunal found that the applicant had applied for debt review in terms of the National Credit Act and that the debt counsellor had determined the applicant was experiencing difficulty in meeting his credit obligations. The debt counsellor recommended a restructuring of payment installments, and all parties consented to the agreement. The Tribunal was satisfied that the requirements of sections 86(7) and 138(1) of the Act were met and confirmed the draft consent order as 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 granted confirming the debt restructuring agreement between the applicant and respondents.

Orders

  • The draft consent order attached as Annexure 'A' is confirmed as an order of the Tribunal.
  • The parties are warned that failure to comply with the order constitutes an offence in terms of section 160(1) of the National Credit Act.