May 9, 2017

DO DEBTS LAST FOREVER?

Prescription was introduced as means of protecting South African consumers from dishonest credit providers, who are responsible for recklessly lending credit and have contributed to the […]
February 8, 2017

CREDIT BUREAUS: CAN I BE BLACKLISTED?

There is no such thing as a blacklist. It simply means that there are negative data on your credit report that is hosted at a Credit […]
January 13, 2016

THE SEQUESTRATION PROCESS

The sequestration process involves a Court Application. The Applicant in the Application is either yourself for your own sequestration (voluntary surrender) or the Applicant is one of […]
November 9, 2015

THE INTERPLAY BETWEEN THE CONSUMER PROTECTION ACT AND THE NATIONAL CREDIT ACT, AND THE POSSIBILITY OF PENALTIES WITH EARLY SETTLEMENT OF CREDIT AGREEMENTS

Mr Black buys a BMW car in terms of a hire purchase agreement and the financing is done through BMW Finance. After a few months Mr […]
October 22, 2015

THE INTERPLAY BETWEEN THE CONSUMER PROTECTION ACT AND THE NATIONAL CREDIT ACT, AND THE POSSIBILITY OF PENALTIES WITH EARLY SETTLEMENT OF CREDIT AGREEMENTS

Mr Black buys a BMW car in terms of a hire purchase agreement and the financing is done through BMW Finance. After a few months Mr […]
October 22, 2015

STANDARD ACKNOWLEDGEMENTS OF DEBT AND THE NATIONAL CREDIT ACT (NCA)

The new NCA does not only regulate instalment sale agreements and lease agreements in respect of movables as was done by its predecessor, the repealed Credit […]
August 17, 2015

RESCISSION OF JUDGEMENT

Imagine receiving the nasty surprise that default judgement has been entered against your name because of a summons that you have never even received. It is […]
June 9, 2015

THE CREDIT AGREEMENT

If you default on a credit agreement and action is taken against you by the credit provider, you still have time, according to Section 129(3)(b) read […]
June 9, 2015

DIFFERENCES BETWEEN LIQUIDATION AND SEQUESTRATION PROCESS

The application for liquidation and sequestration processes are often confused. Many people think that the processes are the same. However, there is a big difference between […]