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CAN I APPLY FOR MORE CREDIT WHILE UNDER DEBT REVIEW?

In terms of section 88(1) of the National Credit Act (NCA) 34 of 2005, a consumer must not incur any further charges under a credit facility whilst under debt review.

When a consumer applies for a debt review,  they are flagged as under debt review. This implies that in a case where an application is lodged by a consumer who is under debt review, when the credit provider pulls up their credit report, it will show that they are under debt review.  According to the NCA, the consumer under debt review cannot enter into any new credit agreements while under debt review.

Any credit provider who extends credit to a consumer flagged as under debt review is deemed to be reckless lending

 

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