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What is a Consent Order?

Consent Orders

What is a Consent Order?

A Consent Order is a legal document that legally binds the credit provider and consumer to the payment arrangements made under debt counselling.

 

What is the importance of a Consent Order? 

The Consent Order contains details on the new instalments, interest rates and repayment terms of all accounts under Debt Counselling. The Consent Order also protects all accounts under the process from termination. 

 

What are the consequences of not sticking to a Consent Order?

Failure to adhere to the new arrangements of the Consent Order gives credit providers the right to terminate the accounts from the process.