Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town offices of STBB. She is an admitted Attorney, Notary Public and Conveyancer with many years of experience in the field of property law and conveyancing. She is also the firm's Marketing Director and attends to external publications for the firm as well as conducts ongoing training for estate agent and bankers training and is a regular seminar presenter for attorneys and property practitioners.

Home Owner’s Automatic Mechanism

The National Credit Act 34 of 2005  (“the NCA”) has a mechanism whereby a defaulting debtor can automatically (and even without the knowledge of the creditor or the debtor himself) “reinstate” a credit agreement. The mechanism operates subject to the proviso that the credit provider has not yet cancelled the agreement.

The effect of the “reinstatement” procedure is to “normalize” a credit agreement that was in default (due to debtor’s failure to pay), to the extent that a default judgement that was obtained at ta time that a debtor was in breach, is is no longer of use to the credit provider.

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