Van Wijk v Absa Bank Ltd and Others (NCT/ 307/2009/138 (1)(P)) [2010] ZANCT 27 (2 February 2010)

Van Wijk v Absa Bank Ltd and Others (NCT/ 307/2009/138 (1)(P)) [2010] ZANCT 27 (2 February 2010)

The Tribunal found that the applicant and the respondents are parties to a debt rearrangement facilitated by a debt counsellor under the National Credit Act. All parties have validly consented to the proposed restructuring of payment instalments. The Tribunal is satisfied that the requirements of the Act have been met 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 27
Parties
Applicant: Adel Van Wijk; Respondent: Absa Bank Limited; Respondent: Direct Axis SA (Pty) Limited; Respondent: The Motor Finance Corporation; Respondent: Nedbank Limited; Respondent: Standard Bank Group Limited
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 February 2010
Case Number
NCT/ 307/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Determination
Outcome
Consent order granted confirming the debt restructuring agreement between the applicant and the respondents.
Judges
F. Manamela
Legal Topics
Debt Restructuring, National Credit Act, Consent Order, Consumer Protection
Banking and Finance Civil Procedure Debt Restructuring National Credit Act Consent Order Consumer Protection

Case Brief

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Parties

Adel Van Wijk

Applicant

Absa Bank Limited

Respondent

Direct Axis SA (Pty) Limited

Respondent

The Motor Finance Corporation

Respondent

Nedbank Limited

Respondent

Standard Bank Group Limited

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 parties have validly 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 and the respondents are parties to a debt rearrangement facilitated by a debt counsellor under the National Credit Act. All parties have validly consented to the proposed restructuring of payment instalments. The Tribunal is satisfied that the requirements of the Act have been met 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

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

Orders

  • The payment structures of the agreement between the applicant and the 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.