NCR - If you loose your job

[Francois]

Foe Fighter, I am with you, but if a client tells me that he can't pay because he doesn't have a job, but will pay from next, or two months time, I am happy. I don't hand them over then as the lawyers will come to the same arrangement and it will only end up costing my client more money. Yes, if in the long run they default again on a promise, then I hit them hard. But I have kept some clients because I am willing to listen to their problems and help where I can, even if it has impacted on my cash flow.

[Aicorner]

The National Credit Act provides for compulsory debt restructuring.

 

The idea is that sellers/lenders have to be more careful about advancing credit, and more accomodating if repayments genuinely can't be made.

 

It looks like quite a few people here are unaware of the implications of the Act.

[mdk555]

Same thing happened with me except for ABSA for said no problem' date=' gave another 30 days on my car and extended my overdraft. This happened about 15 years ago and to this date I amn still with ABSA.  [/quote']

 

Still struggling to pay off the overdraft after 15 years?

[Rookie101]

If I go the NCA way with counceling, they anyways only gonna get minimum payment!!!

 

If I make arrangements with their attorney, they also gonna get minimum at this stage.....

 

I understand you must keep your business running, payments, salsries , ect..... but how you anyway gonna pay salaries on a R50 payment per month???!!!!

 

That is the big problem today, I got these blokes thousands of rands of sales and contracts and this is the way they treat someone who is really in trouble?????

 

You have to start feeling for those around you, and not always break down or like my dad said "vloek, skop en donner" till you get results....

 

[widget]

I understand you must keep your business running' date=' payments, salsries , ect..... but how you anyway gonna pay salaries on a R50 payment per month???!!!!

 

 

[/quote']

 

Its NOT about the business paying the bills on your R50.00 its about YOU showing commitment to the company for your debts.

 

I say again, pay what you can, however small, but pay something, if you dont, you can not expect assistance from the creditor.   

[Rookie101]

Just a pity, even the R100 I paid, instead of R400 they still treat you this way.....

 

All I say is, as previously, in these days it is hard, keep your clients, help if you can, if someone has a real problem, understand!!!

[widget]

If you paid R100.00 you showed commitment, there is nothing they can do to you legally at the present.

 

Obviously it cannot continue indefinately, but no creditor will get judgement against you for at least 6 months if you continue to pay something every month.

 

Chin up, it will get better.

 

 

[idrive]

Almost exactly two years ago I was in a car crash and it took three months before I made sense again. because I work for me, I had no income for a while and couldn't chase money owed to me. I also couldn't put any deals together for 2007 so that became a very lean year.

 

My wife phoned everyone I owed money to and they were all very accommodating .... except ABSA who my house, car, c/card, cheque acc etc is with and I've been with them since it was Allied in the early '80s.....

idrive2008-12-05 12:57:41

[Rookie101]

ABSA is different story!!!!! Have lost a house cause their promises to help never came alive!!!

 

Thanx everyone for the advice.... and chearing me up....

 

We will survive!!!

[SA15]

They can't hand you over to legal before they have offered you an alternative (more affordable) payment structure on your debt... If you default on the new revised payment structure they are then allowed to hand it over to their legal department.., as per the NCA...

What they are doing is using ''bullying'' tactics as a way of forcing you to settle your debt to them.., regardless of how it may impact your life... (Very illegal in terms of the NCA)

 

Do yourself a favor and call the NCA regarding this... It will put your mind at ease and you will have a better understanding as to what your rights are regarding your situation... They are pretty jacked up with regards to returning your call quickly.., if no one is able to take your call at the time...

 

Best of luck... 

[Gert Janse v Rensburg]

ABSA is different story!!!!! Have lost a house cause their promises to help never came alive!!!

 

Thanx everyone for the advice.... and chearing me up....

 

We will survive!!!

 

 

Hey ROOKIE....

 

Where is my fruit cake that you promised me..... I want it by end of the month or ill let you be written up........

 

you still comming up in dec.....

 

wel hope all goes better and that you get sorted soon.....

im kinda in the same boat but  the Lord provided in that got a job for Dec at Bruce Reyneke Cycles.....

[siggie]

Get to a debt counsellor before they institute legal action because once they have instructed an attorney approaching a debt counsellor wont help you. If you have received a letter of demand giving you 20 business days to pay (S129 letter)and you dont make a satisfactory repayment they will hand you over. The demand letter should state that you have the right to approach a debt counsellor. Once the debt counsellor has written to the creditor, this will give you, if i recall correctly 60 business days grace before they can continue with action, if they are not satisfied with the debt counsellors repayment proposal.