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Vilakazi v Absa Bank Ltd and Others (NCT/ 234/2009/138 (1)(P)) [2009] ZANCT 16 (30 November 2009)

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IN THE NATIONAL CONSUMER TRIBUNAL

HELD IN VEREENIGING

Case no: NCT/ 234/2009/138 (1)(P)

Date:30/11/2009

In the matter between:

MAXWELL AARON VILAKAZI................................................................... Applicant/Consumer

and

ABSA BANK LIMITED..............................................................1st Respondent/Credit Provider

JET STORES a division of EDCON (PTY) LTD...................... 2nd Respondent/Credit Provider

NEDBANK LIMITED.................................................................3rd Respondent/Credit Provider

RCS PERSONAL LOANS.........................................................4th Respondent/Credit Provider

STANDARD BANK GROUP LIMITED..................................... 5th Respondent/Credit Provider

CONSENT ORDER

The Tribunal having read the papers filed of record and heard the Debt Counsellor;

The Tribunal, being satisfied that the Applicant and the Respondents are parties to a debt re-arrangement facilitated by a Debt Counsellor under section 86(7)(b) read together with section 138(1) of the National Credit Act, Act 34 of 2005 ;(the Act).

The Tribunal hereby orders that:

1. The draft consent order formulated as the order of the Tribunal attached hereto and marked Annexure "A" and Annexure "AA" is confirmed;

2. The parties are warned that failure to comply with the order of the Tribunal constitutes an offence in terms of section 160(1) of the Act.

Dated and signed at VEREENIGING on this 30th day of November 2009.

PROF BILL HASLAM

PRESIDING MEMBER

IN THE NATIONAL CONSUMER TRIBUNAL
HELD AT CENTURION

Case No:

In the matter between:

VILAKAZI, MAXWELL AARON................................CONSUMER/ FlRST APPLICANT

Identity number:

And

ABSA BANK LIMITED.................................................1st RESPONDENT/CREDIT POVIDER

JET STORES a division of EDCON (PTY) LTD.......2ND RESPONDENT/CREDIT POVIDER

NEDBANK LIMITED....................................................3rd RESPONDENT/CREDIT POVIDER

RCS PERSONAL LOANS...........................................4^th RESPONDENT/CREDIT POVIDER

STANDARD BANK GROUP LIMITED.........................5^th RESPONDENT/CREDIT POVIDER

DRAFT CONSENT ORDER IN TERMS OF SECTION 86(8) READ TOGETHER WITH SECTION 138 OF THE NATIONAL CREDIT ACT 34 OF 2005

WHEREAS:

a. The consumer applied for debt review in terms of the National Credit Act 43 of 2005;

b. The debt counsellor found that the consumer is experiencing difficulty satisfying all obligations under the credit agreements in a timely manner;

c. The debt counsellor recommended a restructuring of the payment instalments to all the credit providers, as per the agreement which is attached hereto marked:

"Annexure B";

d. All the respective credit providers and the consumer/applicant consented to this agreement,
which consents are hereto attached marked "Annexure C"

NOW THEREFORE:

The Tribunal, being satisfied that the Applicant and Respondent are parties to a debt rearrangement facilitated by a debt counsellor under section 86(7) of National Credit Act, hereby orders, by consent of the parties:

That the payment structures of the agreement between the Applicant and the Respondents as set out in Annexure "B", be made an order of the National Consumer Tribunal;
Which agreement restructures the payment instalment by extending the payment period as indicated in Annexure "C"

Creditor	Reference	Annual Interest	New Monthly Instalment	Balance	Estimated Period in Months
ABSA BANK LIMITED	3024866253	20.00%	R 500.00	R1S 348.65	46
JET STORES a division of EDCON (PTY) LTD	7006600100062258753	25.00%	R 30.91	R 2 002.13	58
NEDBANK LIMITED	8155144792701	15.00%	R 257.49	R14 122.96	56
RCS PERSONAL LOANS	27167372	10.00%	R 99.30	R 4 514.40	51
STANDARD BANK GROUP LIMITED	5104333800157330	14.00%	R 62.30	R 1047.78	26

DATED at Centurion this the day of 2009

REGISTRAR OFTHE NATIONAL CONSUMER TRIBUNAL

Applicant/ConsMier

Debt Counsellor on behalf of the Consumer TO:

THE REGISTRAT OF THE TRIBUNAL CENTURION

1.ABSA BANK LIMITED.....................4. RCS Personal Loans (Pty) Ltd
8th Floor Marble Towers …............Ground Floor
CnTJeppe&Van Wielligh Street …..Liberty Grande Building
Johannesburg …....Goodwood

2000 …..................................................Barrow East

…..............................................................7501

2. Jet Stores a division of Edcon (Pty) Ltd.....................5. Standard Bank Group Limited
Edgardake Press Avenue ….......................................Life Centre

Crown Mines …..............................................................45 Commissioner'Street

2025 …...........................................................................9Th Floor

….......................................................................................Johannesburg

…...................................................................................2001.

3. Nedbank Limited
27 Diagonal Street
Johannesburg
2001

Debt Counsellor: Lorenco Lewis Telephone: 0164220966

Email: juanitakamb@telkomsa.net Fax: 0866259625