Thank you all for your contributions. I have every intention to settle the debt but the debt has gone to judgement stage and not able to negotiate with the bank. I can only settle in full in months, not immediately or in the next few months but i don't want to loose at the same time.

Does the lady prefer a whisky rather than a great sex session?

On 2018-07-12 12:41:52 elbuorT said:
does anyone know how this process work. i owe the bank because of financial problem. will they trace me if they don't know where i stay or i change residential address.
purple crew rescue wanted.

Boss, I say fuck them. Don't pay. Let them come find you first. Go berserk and "introduce them to your little friend" Tony Montana style. Like a Motherfuckin Boss.

On 2018-07-13 07:58:23 Burfi said:

Boss, I say fuck them. Don't pay. Let them come find you first. Go berserk and "introduce them to your little friend" Tony Montana style. Like a Motherfuckin Boss.

Lol, Burfi... That comment just made my morning...

On 2018-07-12 20:04:01 elbuorT said:
Thank you all for your contributions. I have every intention to settle the debt but the debt has gone to judgement stage and not able to negotiate with the bank. I can only settle in full in months, not immediately or in the next few months but i don't want to loose at the same time.

Yep it's at this stage when the banks dont want to negotiate as they feel you've had plenty of opportunity to correct the account. They've probably followed the correct procedure, issued you with a Section 129 stating your rights as a defaulter - you did not exercise those rights and now they are 'gatvol' so to speak...... Applying for debt review at this stage is probably pointless ......

On 2018-07-13 07:58:23 Burfi said:

Boss, I say fuck them. Don't pay. Let them come find you first. Go berserk and "introduce them to your little friend" Tony Montana style. Like a Motherfuckin Boss.

Says the 12 year old.

Like seriously, we're all adults... Yeah sometimes life throws us lemons but hey, if a person can't take responsibility and/or accountability, doesnt say much about their integrity.

A person's character is defined, not by the good times but how they handle the bad times!

You can run but you cannot hide. My partner split from her ex nearly 10 years ago and still received calls from tracers untill fairly recently, although they were legally divorced. The tactic seems to be to obtain some form of acknowledgement of debt to avoid the proscription taking effect every 3 years. It could also be that default judgement has been granted.

It also appears that the debt may have been sold/ceded to a 3rd party.In any event, who wants to be looking over their shoulder all the time?

Also keep in mind that if you are married in community of property you could be hounded for at least part of the debt incurred by an estranged, but not legally divorced spouse. In any event once collection attorneys have their claws into you, the original debt just seems to grow and grow.

On 2018-07-12 16:18:57 Natalie said:
The banks are in their legal right to continue with legal action once they have sent you a Section 129 via registered mail. This is a final demand, stating your rights. Whether or not you collect said mail, SA law says that you are in receipt of such if it is your post office has stamped and acknowledged they have delivered the notice for the letter to you. Should you not exercise your rights, the account will be handed to attorneys or a collection agent for recovery of the debt. It is at this time, I too would suggest a person consider debt review for several reasons, one of which would be to protect your assets.

Arrangements can still be made however should a person want to 'hide' and avoid accountability of the debt, a summons will be issued to the domicillium address as stated in your contract. Now you could have moved and never received the summons but the onus is on you, the person, to update the domicillium address.

If you wish to defend the summons on the basis of 'whatever' it is at this point you would need to appoint an attorney (Having said that, depending on the debt, if it is small debt sometimes you can defend yourself and appear in court with 'evidence' of affordability such as your income and budget) However if the debt is for an asset - you definitely need legal representation.

Long story short - if the matter goes to court and judgement is granted in favour of the credit provider they will request for an attachment order which could include the repossession of your property, car and/or garnishing order. If judgment is not granted cause either you or your attorney did a good job - you're ok.

As for moving and 'hiding' credit providers can and will appoint tracers to locate you. Doh, common sense will tell you that you can only hide for so long.

Debt (this refers to unsecured loans and/or credit) can prescribe after a 3 year period, that is, if no legal action has been taken during the 3 years and/or there's been no acknowledgement of the debt or payment made. There's a fine line between what the courts consider as 'legal action' and opinions differ but usually it's when a summons has been issued.
Note: many credit providers will endeavour to ensure this doesnt happen even if they issue a summons 2 days before the 3 year period is up.

If judgement has been issued on a property - said property will be attached and auctioned - I would suggest trying to resolve the matter sooner rather than later cause the property could be sold off at a lesser amount and you will be held liable. Many options are available including listing it on the market and/or private auctions with a reserve price.
IF judgment has been issued on a vehicle, an attachment order will be issued and the Sheriff may collect the vehicle, if a person is hiding the vehicle - other legal matters come into play this may include a warrant for a person's arrest for defeating the ends of justice as a court order is a very serious ORDER OF THE COURT.

Now a judgement can be valid for up to 20 years though it only appears on the credit bureau for 5. The reason for such is - to avoid the debt prescribing and if it is a person responsible for the debt is 'down & out' now - he/she could win the lotto in year 19, the credit providers can come claim their monies with interest and/or costs.
30 years for property.
Unless the debt is paid and the judgment resindered

WG or financial services xpert - wat xactly are u woman :-)

Dude, try 2speak 2them again hopefully its not too late , everythin other than that is gonna screw up your credit record big time, even debt counselling and especially debt review will hav an advers effect. Prior to this, book an hour with Natalie, she got good advice and she will make u 4get about yor shit for a while

On 2018-07-12 20:04:01 elbuorT said:
Thank you all for your contributions. I have every intention to settle the debt but the debt has gone to judgement stage and not able to negotiate with the bank. I can only settle in full in months, not immediately or in the next few months but i don't want to loose at the same time.

Boss, exactly what do they want to repo? Is it a car or property?