T-Bob Posted September 1, 2013 Share I don't think the guy's gonna have luck going the legal route. If he wanted to "legally" pawn it or make a loan, he could have done it right next door at Cash Converters. They're literally next door to NW, and I think they do these sort of arrangements. I was going to say the same thing. It is the shop right next to it and they are legal. It is a tough story but it's not uncommon, seen it too many times with people who hock something for feck all it's worth thinking that in a month or so they'll somehow have managed to get back on their feet and get all that cash together. It never works out and that is why pawn shops are so successful. On another note, I've only just heard about NW being a bit dodgy. I went it there a month or so ago and found the guy to be pretty friendly, offered up some trail advice for riding with dogs and bought some new look cleats at great price. Oh well. Link to comment Share on other sites More sharing options...
Lone_Ranger Posted September 2, 2013 Share I was going to say the same thing. It is the shop right next to it and they are legal. It is a tough story but it's not uncommon, seen it too many times with people who hock something for feck all it's worth thinking that in a month or so they'll somehow have managed to get back on their feet and get all that cash together. It never works out and that is why pawn shops are so successful. On another note, I've only just heard about NW being a bit dodgy. I went it there a month or so ago and found the guy to be pretty friendly, offered up some trail advice for riding with dogs and bought some new look cleats at great price. Oh well. If you look like you have a few bob he'll try to sell his mother to you. But I witnessed the way he treats his workers and guys wanting to pawn bikes, and its shocking. I was seriously considering buying a bike there once, and then I saw him talk to one of his workers, and walked straight out. Joe Low 1 Link to comment Share on other sites More sharing options...
Skylark Posted September 2, 2013 Share It is a very sticky unfortunate situation but it can be sorted out! I am sure the consumer protection act has something in it that can help this guy pay NW his money and then get his bike back! Come on hubbers there must be someone out there that knows the legalities to help remedy this situation! This is a fellow cyclists who has made a mistake, surely we can't let him suffer so badly by losing his bike! Lol, CPA, hahaha thats for respectable shops that worry about their reputation. The only thing Neil is worried about is the police rocking up at his door asking questions and demanding to see paperwork, even then he might have his "mate" in the charge office to "fix" things but if you manage to get a zealous cop there who doesn't "know" him I'm sure he'll wake right up and return the bike, after the monies paid that is. Where's the OP gone to, heard nothing since his initial rants?Another flash in the pan Link to comment Share on other sites More sharing options...
Shebeen Posted September 2, 2013 Share Pawn Deal or buy back, the principle remains the same. and if you want to get really technical the invoice doesn't have any terms or conditions listed. But I guess that's how it goes. its a business deal and not a gentleman's agreement. sad thing thing is this friend of mine loves cycling, and its his way of escaping the hardships of daily living.You know you're in the wrong when thehublic end up taking NW's side of the story. Joe Low 1 Link to comment Share on other sites More sharing options...
Surv0MTB Posted September 2, 2013 Share An agreement was made, and agreement was broken. Nothing wrong here. Ex Bike owner no doubt very upset about this, but sounds completely irresponsible to let it get that far. All said, its a very shady way of doing business, and one which thrives on taking advantage of people in tight spots. Dude should have taken a small loan from a bank or a micro lender rather than Pawn his bike.. that is the first mistake he made. DIPSLICK 1 Link to comment Share on other sites More sharing options...
JGR Posted September 2, 2013 Share Cape Town is mos the Tik Capital of SA!but seriously... Did Neil charge the guy interest? Go and try to borrow from any other micro lender and you would get ripped a new one with interest that they'll charge for 3 months.plus initiation fee to be added to the principle loan and there after interest on that as well Link to comment Share on other sites More sharing options...
Cassie Posted September 2, 2013 Share Next time...come to me! I'll lend you the cash for the bike as colateral... But just TRY and be late for the buy back....I'll happily keep the bike!R18k ==> R7.5k great deal!! Link to comment Share on other sites More sharing options...
fanievb Posted September 2, 2013 Share Pawn transactions are subject to the national credit act, not the CPA. Your mate can try and complain through the national credit regulator www.ncr.org.za, but that will only help if NW is a registered credit provider. Link to comment Share on other sites More sharing options...
dee_biker Posted September 2, 2013 Share Have bought new "authentic" Oakley sunglasses from him a couple of months back, only to find out that they are Fakeleys. He was full of excuses, but was quite happy to give me my money back after I mentioned The Hub. I tell you, The Hub works better that Hellopeter.com, which works very good! Link to comment Share on other sites More sharing options...
MTB_Roadie Posted September 2, 2013 Share Next time...come to me! I'll lend you the cash for the bike as colateral... But just TRY and be late for the buy back....I'll happily keep the bike!R18k ==> R7.5k great deal!! Agreed Link to comment Share on other sites More sharing options...
nolipoli Posted September 2, 2013 Share I take great exception to people that knowingly get themselves into these sorts of agreements, and then when it doesn't end the way they were expecting, they try to hide behind the NCA or CPA. Just take responsibility and pay the school fees. Tjokkits, marko35s and fanievb 3 Link to comment Share on other sites More sharing options...
shaper Posted September 2, 2013 Share Your mate should have sold the bike for R18k, paid off his debts, then whatever money he had left bought a bike for that value and started over... at least he would have sorted his life out for a short while and still had some sort of bike to ride. My feeling is that if he could not sort out the repayment in 3 months knowing the deadline, then it would have never been sorted and only come up with on-going excuses... Bad apples all around, NW, your mate and you .... Mr Winter 1 Link to comment Share on other sites More sharing options...
Caerus Posted September 2, 2013 Share Have bought new "authentic" Oakley sunglasses from him a couple of months back, only to find out that they are Fakeleys. He was full of excuses, but was quite happy to give me my money back after I mentioned The Hub. I tell you, The Hub works better that Hellopeter.com, which works very good!I would have punched him in the face if that is indeed the case. What a tjop. Link to comment Share on other sites More sharing options...
Skylark Posted September 2, 2013 Share Have bought new "authentic" Oakley sunglasses from him a couple of months back, only to find out that they are Fakeleys. He was full of excuses, but was quite happy to give me my money back after I mentioned The Hub. I tell you, The Hub works better that Hellopeter.com, which works very good! What a skom! Link to comment Share on other sites More sharing options...
Tjokkits Posted September 2, 2013 Share I take great exception to people that knowingly get themselves into these sorts of agreements, and then when it doesn't end the way they were expecting, they try to hide behind the NCA or CPA. Just take responsibility and pay the school fees. have to agree here Link to comment Share on other sites More sharing options...
Pappa Bear Posted September 3, 2013 Share So where can i sign the petition? Link to comment Share on other sites More sharing options...
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