lose my car

Repossessing my car under debt review

The main concern of people in debt is repossession of their assets, like their car. This leads to the popular question of “Can I lose my car if I go under debt review?” The simple answer is no. This is because when you enter under debt review, your assets are protected under the NCA (national credit act).


The NCA protects your assets from repossession so while you are under the debt review process, your car cannot be repossessed.

Your debt counsellor will negotiate with your creditors and come up with a reduced, affordable repayment plan. Your payment will be reduced as interest rates and other terms will be negotiated so that you can pay less.

By entering under debt review, it allows you to pay off your debt- including your car repayments- until you become debt free.

This also means that your creditors can no longer harass or contact you while under debt review, meaning less stress!

Be sure to check your debt counsellor is registered with the NCR!

Too late?

If you receive a section 129 notice or Letter of Demand and do not apply for debt counselling within 10 days of receiving that notice, your car is under risk of being repossessed.

Your car is also under risk of repossession if you do not keep up your side of debt review and miss your repayments.

How can I prevent this?

Start your repayments with a trustworthy debt counselling company, like Meerkat. We will help you to make affordable repayments each month on your way to becoming debt free. After you have joined the process, make sure that you make your repayments on time each month. This way your car will be safe from repossession and you can sleep easier at night.

Read more about debt review and the benefits and disadvantages associated here.

Your assets will be protected and we are always looking out for you every step of the way. Contact Meerkat today for help.