National Consumer Credit Protection Act 2009
Note:
See section 3 of the National Credit Act.
PART 4 - CHANGES TO OBLIGATIONS UNDER CREDIT CONTRACTS, MORTGAGES AND GUARANTEES Division 3 - Changes on grounds of hardship and unjust transactions 74 Changes by court 74(1)If the credit provider does not change the credit contract as a result of a hardship notice by the debtor, the debtor may apply to the court to change the terms of the credit contract.
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Hide history note74(2)
The court may, after allowing the applicant, the credit provider and any guarantor a reasonable opportunity to be heard:
(a) by order change the credit contract (but not so as to reduce the amount ultimately payable by the debtor to the credit provider under the contract), and make such other orders as it thinks fit; or
(b) refuse to change the credit contract.
74(3)
The court may, if it thinks it appropriate in the circumstances, stay any enforcement proceedings under the credit contract, and make such other orders as it thinks fit, until the application has been determined.
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