Debt review
A National Credit Act process for over-indebted consumers to have qualifying credit agreements assessed and restructured through a debt counsellor and court-related process.
Definition
Debt review is different from ordinary debt collection and should be checked against credit agreements, income, expenses, arrears, Section 129 notices, summons, debt counsellor records, court orders, termination notices, and whether any credit agreement falls outside the process.
Key takeaways
A National Credit Act process for over-indebted consumers to have qualifying credit agreements assessed and restructured through a debt counsellor and court-related process.
Debt Collection
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Related legal problems
This glossary provides general information only and does not constitute legal advice.
Common situations
Debt review
Debt collection during debt review
Credit agreement dispute
Related resources
Resources and guides
Debt Letter of Demand Response Checklist
Prepare after receiving a debt letter of demand by organising the demand, creditor details, contract, statements, payment proof, prescription questions, credit-law issues, affordability, and response-deadline questions.
Debt CollectionClient Document PackDebt Defence Consultation Pack
Debt Defence Consultation Pack: prepare Demand letter, Summons, Credit agreement and identify missing records before legal advice.
Debt CollectionChecklistCredit And Finance Checklist
Credit And Finance Checklist for preparing documents, facts, dates, and questions connected to banking and finance.
Banking and FinanceFAQs
Debt review FAQs
What does Debt review mean?
A National Credit Act process for over-indebted consumers to have qualifying credit agreements assessed and restructured through a debt counsellor and court-related process.
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