Although the National Credit Amendment Act introduces several changes to the current law, the inclusion of debt intervention is most significant. It is welcome for consumers who have previously been excluded from formal debt relief procedures. This inequality in our credit and insolvency legislation has left many desperate consumers to face the full impact of debt enforcement without any avenue for surrender.

In both debt review and insolvency proceedings, more affluent consumers benefit from some form of credit write-offs, but good-faith low- or no-income earners are forced to pay their full debt obligation and additional, often exorbitant, legal costs...

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