Form 17.4 is now formally known as a 17.W, also known as the Debt Review Cancellation Form, is an official document used in the debt review process. Whether cancelled voluntarily or involuntarily, completing a Debt Review Cancellation Form is required by the National Credit Act (NCA).
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Form 17.4, also known as the Cancellation Form, is related to the debt review process in South Africa under the National Credit Act (NCA). This form was used when a debt review was cancelled, either voluntarily or involuntarily.
However, it’s important to note that as of February 19, 2015, Form 17.4 is no longer valid and may no longer be used. It has been replaced by Form 17.W. The issuance of Form 17.4 did result in the voluntary cancellation of the debt review process by the consumer or the debt counsellor.
When a debt review is cancelled, there are serious considerations to make before proceeding. These include potential cancellation fees, the re-establishment of the original credit agreement, the possibility of immediate legal action against you by your credit providers, and the fact that you will not receive your Clearance Certificate that clears your credit record. It could also be much harder to apply for Debt Review in the future.
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