Apply For Debt Freeze After Retrenchment

The National Credit Act provides for these scenarios in Section 86(7)(c)(i)(cc). This section reads as follows: "if as a result of an assessment conducted in terms of subsection (6), a debt counselor reasonably concludes that the consumer is over-indebted, the debt counselor may issue a proposal recommending that the Magistrates Court make an Order that one or more of the consumer's obligations may be rearranged by extending the period of the agreement and postponing during a specific period the dates on which payments are due under the agreement".