Debt & Your Rights Guides
Know your rights as a borrower. Plain-English guides to the National Credit Act, debt review, garnishee orders, section 129 notices, prescribed debt, debt collectors, repossession and reckless lending. Learn what lenders and collectors are allowed to do, where to complain, and the lawful ways out when repayments become too much, including the Credit Ombud and registered debt counsellors.
20 guides
When you cannot pay your debts, the two worst things are panicking and ignoring it, both make matters worse.
Repossession is when a lender takes back goods bought on credit, like a car or furniture, because you have defaulted.
A credit agreement is the binding legal contract for a loan, setting out the amount, interest rate, fees, total cost of credit, repayment schedule and your obligations.
Under the Consumer Protection Act, your consumer rights include fair value, good-quality and safe goods, honest information, fair pricing, and protection from misleading practices.
An administration order is a court-granted debt-relief arrangement for people with relatively small total debts who cannot pay their creditors normally.
Sequestration is a legal process where a court declares you insolvent, your estate is surrendered, assets may be sold to pay creditors, and after a period you can be rehabilitated.
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