At the end of May 2025, the High Court held that where notice is given by the credit provider to the consumer under section 129(1)(a) of the National Credit Act drawing attention to a default, the credit provider must negotiate with the consumer who wants to make arrangements to pay off the arrears. The credit provider
defaults on loan repayments
Finality in Court Orders: The Principle of Peremption Explained
By Maano Manavhela & Donald Dinnie on
In the recent case, the High Court of South Africa dealt with an application for the rescission of two court orders. These orders were related to a settlement agreement following defaults on loan repayments by the Applicants.
The applicants had entered into a settlement agreement with the respondents (Bank) after defaulting on their loan repayments. …