Cancelling a contract? The do’s and dont’s to consider!
Every person, whether an individual or a juristic person, will find themselves in a situation where they will want to terminate a contract. The aim of this article is to set out the requirements for terminating a contract as well as to give basic guidance when doing so. When a person wants to cancel a […]
I repay my debts, what can I do?
If you are over-indebted, in other words, unable to repay all you credit agreements. Your biggest concern might be not getting dragged off to court or having all your possessions taken away. So what can you do to get out of your mess? Debt review Before you receive a summons for your outstanding debt you […]
Sale of immovable property and the national credit act.
It often happens during a sale of immovable property that the parties agree to a deferred payment of the purchase price. The purchaser will then pay the purchase price in instalments and the seller will charge interest on the outstanding amount from time to time. Sometimes the parties even agree to the registration of a […]
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 Black inherits a huge sum of money and decides that he wants to settle the outstanding amount. Mr Black’s concern is whether the credit provider is entitled to charge […]
How to manage your debt
Alecia had big financial problems; she had too much debt and her expenses outweighed her income. She decided to open a new bank account into which her salary could be paid, which would ensure that she could manage her salary before her monthly debit orders went off. Alecia thought it would be a good idea […]