Voluntary withdraw from Debt Review / Sec 88 (1):
Section 71(2)(b)(i) of the Act initially made provision for consumers to only exit debt review through issuance of a clearance certificate after they have paid all their re-arranged debts in full.
This provision will however change upon proclamation of the National Credit Amendment Act (NCAA) under section 71(1)
Demonstrated: (i) financial ability to satisfy the future obligations in terms of the re-arrangement order or agreement under-
- aa) a mortgage agreement which secures a credit agreement for the purchase or improvement of immovable property; or
(bb) any long-term agreement as may be prescribed;
(ii) that there are no arrears on the re-arrangement contemplated in subparagraph
(i); and (iii)
that all obligations under every credit agreement included in the re-arrangement order or agreement other than those contemplated in subparagraph
(i), have been settled in full.