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The right to be issued with a clearance certificate and the cancellation of the debt review process

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(as extracted from Nicky Campbell’s Chapter 6, “The consumer’s rights and credit provider’s obligations”, in The Guide to the National Credit Act by JW Scholtz, Jannie Otto, E Van Zyl, Corlia Van Heerden, and Nicky Campbell) Section 21 of the National Credit Amendment Act amended section 71 of the principal Act to provide as follows:…

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Trapped in administration? Cancel it or write it off!

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An administration order is granted in terms of the Magistrates’ Court Act 32 of 1944 where the consumers debt is less than R50 000.00. An administrator is then appointed to collect a monthly amount that is distributed amongst the consumers’ creditors as detailed in the administration order. Administrators can add new creditors to the list…

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Beware! Upfront fees for credit repair are unlawful

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Credit repair in South Africa has become a formidable industry. Only ten years ago, one needed an attorney to improve one’s credit record. Today there are dozens of so-called credit repair agencies and most do not employ attorneys, and many do not have any legal qualifications. With the proliferation of credit repair agencies, there has…