Section 129 Notice
A notice under the National Credit Act that may be required before a credit provider starts certain debt-enforcement steps.
Definition
A Section 129 notice is an important warning in credit-agreement matters. It can affect whether later summons and enforcement steps are procedurally sound, so a consumer should check the agreement, arrears amount, delivery details, proposed options, deadlines, and whether debt counselling or legal advice is needed.
Key takeaways
A notice under the National Credit Act that may be required before a credit provider starts certain debt-enforcement steps.
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Related legal problems
This glossary provides general information only and does not constitute legal advice.
Common situations
Credit agreement debt
Debt enforcement
Section 129 notice received
Related resources
Resources and guides
FAQs
Section 129 Notice FAQs
What does Section 129 Notice mean?
A notice under the National Credit Act that may be required before a credit provider starts certain debt-enforcement steps.
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