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Debt Review Cancellation Letter Template for South Africa

A formal legal document used in South Africa to initiate the withdrawal from a debt review process under the National Credit Act 34 of 2005. This letter serves as official notification to the debt counsellor and other relevant parties of the consumer's intention to terminate their debt review status. The document must comply with South African credit law requirements and includes essential information such as the consumer's details, debt review reference numbers, declaration of withdrawal intention, and the legal basis for cancellation. It triggers the process of updating credit records and notifying all relevant credit providers.

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What is a Debt Review Cancellation Letter?

The Debt Review Cancellation Letter is a crucial document in South African consumer credit law, used when a consumer wishes to withdraw from the debt review process established under the National Credit Act. This document becomes necessary when a consumer's financial situation has improved, when they have successfully completed their debt review program, or when they choose to terminate the debt review process for other valid reasons. The letter must meet specific legal requirements and include particular information such as the consumer's details, debt review number, and clear declaration of intent to withdraw. It serves as formal notification to the debt counsellor, credit providers, and credit bureaus, triggering the process of updating the consumer's credit status. The document's format and content are influenced by South African credit legislation, particularly the National Credit Act and its regulations, and may need to reference existing court orders if applicable.

What sections should be included in a Debt Review Cancellation Letter?

1. Letter Header: Full contact details of the sender, date, and reference numbers (including debt review number and ID number)

2. Recipient Details: Debt counsellor's full details, including registration number

3. Subject Line: Clear indication that this is a Debt Review Cancellation Notice

4. Consumer Information: Full names, ID number, and contact details of the consumer

5. Declaration of Intent: Clear statement of intention to withdraw from debt review process

6. Current Status: Brief overview of current debt review status and reason for cancellation

7. Legal Basis: Reference to relevant sections of the National Credit Act supporting the withdrawal

8. Request for Confirmation: Request for written confirmation of the cancellation and updating of credit records

9. Signature Block: Space for consumer's signature, name, and date

What sections are optional to include in a Debt Review Cancellation Letter?

1. Court Order Reference: Required if a debt review court order is in place, including relevant case numbers and dates

2. Credit Provider List: List of all credit providers involved in the debt review, needed if requesting notification to all creditors

3. Financial Status Declaration: Statement about current financial position, required if cancellation is based on improved financial circumstances

4. Legal Representative Details: Include if the cancellation is being handled through a legal representative

5. Reason for Withdrawal: Detailed explanation of reasons for withdrawal, if strategic to include

What schedules should be included in a Debt Review Cancellation Letter?

1. Form 17.W: Official Debt Review Withdrawal Form as prescribed by the National Credit Act

2. Proof of Income: Recent payslips or bank statements showing improved financial position (if applicable)

3. Credit Bureau Reports: Recent credit reports showing current credit status

4. Debt Review Court Order: Copy of existing court order (if applicable)

5. Payment History: Statement showing history of payments made under debt review (if relevant to cancellation reason)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

South Africa

Document Type

Cancellation Letter

Sector

Sales

Cost

Free to use

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