Consumer Collections

”In full and final settlement” …or is it? (Properly Drafting Settlement Agreements)

Settlement agreements form an essential part of commercial debt repayments. By acting as a recording of the agreed terms of the repayment, such agreements are meant to provide certainty as to the intention of the parties. It is for this very reason that the terms of settlement agreements should always be in writing and be …

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SALR’s Discussion Paper On The Review Of Administration Orders Surfaces Again as a Means of Debtor Assistance

Many South Africans are currently feeling the pressure of the economic recession and looking for relief. However, it has now become more widely recognised that the solution contained in the National Credit Act 34 of 2005 (“NCA”) of debt counselling, has inherent limitations and flaws and is thus not the panacea of debt relief it …

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When does the National Credit Act Apply to a Transaction?

The Test for NCA Applicability The National Credit Act No. 34 of 2005 (“the NCA” or “Act”) has had a significant impact on transactions involving deferred payment and interest in South Africa. However, it has almost become trite law to refer to the interpretive challenges that arise out of the poor drafting, while at the …

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