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The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers
Mini Dissertation (LLM (Mercantile Law))--University of Pretoria, 2023.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2024
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| _version_ | 1867613482544791552 |
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| access_status_str | Open Access |
| author2 | Boraine, A. (Andre), 1957- |
| author_browse | Boraine, A. (Andre), 1957- |
| author_facet | Boraine, A. (Andre), 1957- |
| collection | Thesis |
| dc_rights_str_mv | © 2023 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation (LLM (Mercantile Law))--University of Pretoria, 2023. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/94860 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:36:51.203Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/94860 The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers Boraine, A. (Andre), 1957- fnkadimeng@lekhupilson.co.za Renke, Stefan Nkadimeng, Fanisa UCTD Debt review Debt intervention Sequestration Over-indebtedness Rehabilitation Mini Dissertation (LLM (Mercantile Law))--University of Pretoria, 2023. The South African personal insolvency system needs reform to accommodate all categories of debtors who find themselves over-indebted and unable to re-establish themselves economically. Presently there are three statutory debt relief measures for an over-indebted consumer to utilise. Sequestration in terms of the Insolvency Act, administration in terms of the Magistrates’ Courts Act, and debt review in terms of the National Credit Act. All these measures require disposable assets or disposable income which creates an access barrier for no-income-no-asset (“NINA”) and low-income-low-asset (“LILA”) debtors. The National Credit Act came into effect on 1 June 2007 and one of the Act’s main objectives is to “provide for debt re-organisation in cases of over-indebtedness.” Part D of Chapter 4 (sections 85-88, as amended in terms of the National Credit Amendment Act 19 of 2014) introduces remedies for alleviating debt burdens, notably incorporating sections 85 and 86, which introduced the debt review procedure. However, the existing procedure falls short of effectiveness, lacking a debt discharge and imposing indefinite time constraints. In response to this inadequacy, the National Credit Amendment Act 7 of 2019 introduced debt intervention as an alternative debt relief measure to the debt review process in terms of the original Act. This mini-dissertation aims to investigate whether debt review as an alternative to the sequestration procedure genuinely offers effective debt alleviation for diverse categories of debtors. The dissertation emphasises the need for a more comprehensive natural person insolvency system in South Africa, addressing challenges specific to debtor-groups such as NINA and LILA debtors. While debt intervention is yet to be implemented it deserves commendation as a positive step in the right direction. Mercantile Law LLM (Mercantile Law) Unrestricted Faculty of Laws None 2024-02-22T14:04:33Z 2024-02-22T14:04:33Z 2024-04 2024 Dissertation * A2024 http://hdl.handle.net/2263/94860 https://library.up.ac.za/home en © 2023 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Debt review Debt intervention Sequestration Over-indebtedness Rehabilitation The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers |
| title | The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers |
| title_full | The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers |
| title_fullStr | The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers |
| title_full_unstemmed | The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers |
| title_short | The effectiveness of debt review in terms of the National Credit Act 34 of 2005 as a debt relief measure for over-indebted consumers |
| title_sort | effectiveness of debt review in terms of the national credit act 34 of 2005 as a debt relief measure for over indebted consumers |
| topic | UCTD Debt review Debt intervention Sequestration Over-indebtedness Rehabilitation |
| url | http://hdl.handle.net/2263/94860 https://library.up.ac.za/home |