This is a mouthful. The problems clients encounter with banks are to many to be able to write a blog article about. It will most probably take a few hundred to get even near to it.
The purpose of this specific page is the following:
Clients obtain credit from banks. Clients encounter problems with the repayment of the credit lines because of various reasons : Their small business fails, they lose their jobs, they get over indebted because of reckless lending from banks and other credit providers etc etc. I will handle this in an upcoming post. Because of these and other factors clients are taken to the courts by the financiers. Of course this is their good right to do so to try and get their money back.
BUT..and this is a massive BUT. The banks will take short cuts and in the process trample on client's rights. For example : Credit providers are required to deliver a notice in terms of the credit act (in short called a 129a notice) to inform a client of his or her rights BEFORE any legal action can be taken. The banks hide behind the clause in their contracts (which is nowadays unenforceable because of various new acts) that once they have sent this off it is assumed to having been received within a certain period of time.
According to a recent Constitutional ruling this no longer applies. They have to be able to PROVE that the client actually received the notice.
Now in most cases the banks will go ahead and issue summons. Another problem arises. Whether this is intentional or because of ignorance is not of importance here. They will issue summons to any possible address they might have on record somewhere and possibly in the hope that the client does not receive the summons. In such a case default judment is taken and wholla ! They will repossess property, cars whatever and the client is non the wiser that he had rights !
We are now in a possition to help most of these clients: You have the right to have those judgments set aside. You have the right to query any and all actions of the banks in their processes of collection ! Just speak to us : A first interview will cost you nothing - even via Skype -
John 082 222 5002 Skype johnbrandowcenturion email Johnbrandow@mweb.co.za
The purpose of this specific page is the following:
Clients obtain credit from banks. Clients encounter problems with the repayment of the credit lines because of various reasons : Their small business fails, they lose their jobs, they get over indebted because of reckless lending from banks and other credit providers etc etc. I will handle this in an upcoming post. Because of these and other factors clients are taken to the courts by the financiers. Of course this is their good right to do so to try and get their money back.
BUT..and this is a massive BUT. The banks will take short cuts and in the process trample on client's rights. For example : Credit providers are required to deliver a notice in terms of the credit act (in short called a 129a notice) to inform a client of his or her rights BEFORE any legal action can be taken. The banks hide behind the clause in their contracts (which is nowadays unenforceable because of various new acts) that once they have sent this off it is assumed to having been received within a certain period of time.
According to a recent Constitutional ruling this no longer applies. They have to be able to PROVE that the client actually received the notice.
Now in most cases the banks will go ahead and issue summons. Another problem arises. Whether this is intentional or because of ignorance is not of importance here. They will issue summons to any possible address they might have on record somewhere and possibly in the hope that the client does not receive the summons. In such a case default judment is taken and wholla ! They will repossess property, cars whatever and the client is non the wiser that he had rights !
We are now in a possition to help most of these clients: You have the right to have those judgments set aside. You have the right to query any and all actions of the banks in their processes of collection ! Just speak to us : A first interview will cost you nothing - even via Skype -
John 082 222 5002 Skype johnbrandowcenturion email Johnbrandow@mweb.co.za
