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Debt Review Termination

Questions & AnswersCategory: Debt ReviewDebt Review Termination
JV asked 2 years ago


I am under debt review with only 1 creditor left of R60 000. The account I up to date but I missed 2 payments earlier in the year. The creditor now wants to cancel the debt review agreement.

I understand only a court can terminate debt review, so what is the difference between paying this creditor under debt review or not? I have already discussed with them the monthly instalment and this remains the same in either case.

So does this technically mean I am not under debt review (because all my creditors have been paid up), except the one remaining creditor that has cancelled the debt review and fallen back on the original payment plan prior to the court case?

In that case could I get a clearance certificate a technically I have paid all creditors as per the debt review process?

1 Answers
Matthys Potgieter Staff answered 2 years ago

Hi there,
Thank you for getting in touch.
If you miss one payment credit providers are well within their right to terminate the debt review and initiate legal action without further notice. If you default on the debt review repayment, there is no need for the courts to terminate. Section 86 of the National Credit Act allows credit providers to do this from their side.
To keep your debt review intact, you need to talk to your debt counsellor so he/she can negotiate a compromise with the credit provider. If you bring the missed payments up to date they might consider keeping the account in the debt review process.
Alternatively, they can withdraw and you would need to pay them directly. Ask your debt counsellor to adjust your monthly contribution accordingly to make sure that you have sufficient cash to pay the credit provider directly.
Kind regards