Standardised Court Order

The Industry has struggled with the number of court Orders that are granted but do not include the necessary information in order to effectively restructure a consumer’s account.

As a result CIF convened in order to agree on a standardised version of a debt review court Order, taking into account the Magistrates Court Act, as well as what the industry will need.

Noteworthy items are:

• Proposed structure to be part of the court Order.
• Terminated accounts can no longer be re-instated by simply including this in the Order.

After numerous discussions, a final template was agreed upon. The industry awaits CIF’s final recommendations.