We just need to clarify the following before we can answer your question:
•Does it concern a consumer credit contract?
•If not, what type of consumer arrangement does your question concern?
Thank you for clarifying that your question does in fact concern a consumer credit contract. The requirements relating to a defaulting consumer, under a consumer credit contract are located in Part 5 of the National Credit Code. Generally speaking, these requirements apply to the credit provider but third parties such as brokers can agree to do this on the lender’s behalf.
However, if you have any specific question about how these provisions operate please contact our Financial Services team who would be pleased to provide advice based on your specific circumstances.