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Lesson /40
What is an administration order?

If you find yourself unable to manage your debt, you may apply for an administration order in the Magistrates Court if your debt does not exceed R50 000. The magistrate examines your financial position and appoints an administrator to whom you make regular payments.

These payments are divided proportionately among the various stores and banks to which you may owe money. An administration order remains on your credit report for a period of 10 years or until it has been rescinded.

 

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