Debt Prevention

Is a Surety’s Liability Limited to the Initial Credit Agreement? Insights from Actisol 145 CC v Seryt Tyres

Commercial Law, Debt Collection, Debt Prevention, Debt Review Upliftment, Debtors, Debtors book

Gain critical insights from the Gauteng High Court case, Actisol 145 CC v Seryt Tyres, addressing the extent of a surety’s liability in credit agreements. This pivotal judgment, led by Judge Nkutha-Nkontwana, explores whether a surety’s obligation is confined to the initial credit limit or extends to the actual debt incurred. Uncover the legal intricacies, the court’s decision, and its implications for sureties in business credit facilities

The Cold Hard Truth About Debt Review

Debt Review Upliftment, Debt Prevention

When struggling with mounting debt, many people seek help in the form of debt review or debt counselling. While this may seem like a fool-proof solution to financial distress, it is essential to understand the realities of the process before diving in. The Cold Hard...

Debt Review Upliftment versus Rescission of a Debt Review Court Order

Debt Prevention

There are two ways to exit the debt review process, namely Rescission of Judgment, or an Application for Upliftment of the Debt Review.

ABC’S (ALWAYS BE COLLECTING) – REASONS WHY DEBTOR’S MANAGEMENT IS A FULL TIME JOB

Debt Collection, Debt Prevention

One thing that really stands out in my experience as a debt collection attorney, is that debtors almost always settle the outstanding debt if the debts are demanded whilst it is still fresh. This means that the older the debt you are attempting to collect, the smaller...

IS THERE ANY WAY TO EXIT DEBT REVIEW AFTER THE COURT HAS GIVEN AN ORDER

Debt Prevention, Debtors

Jenny and her husband, to whom she was married in community of property, entered debt review five years ago and since, a Court order in terms of Section 86(7)(c)(ii) granted. Jenny and her husband, has since gotten divorced and a settlement agreement entered into...

The Truth About Debt Review

Debt Collection, Debt Prevention

The miracle of debt review is widely portrayed as an “easy escape” by debt counsellors in South Africa. Is it really as magnificent as it seems? Or are debt counsellors selling you a dream? Discover the truth about debt review in this tell-all article.

What Should You Do If The Sheriff Threatens To Remove Assets

Debt Collection, Debt Prevention, Debtors

John has a big problem. He is living in a fully furnished flat that he is renting. The furniture in the flat is not his but belongs to his landlord. Some time ago, John made a series of bad choices that led to a few judgments being granted against him. John calls his...

Why you need an acknowledgement of debt in place with your debtor

Debt Collection, Debt Prevention, Debtors book

If you have been forced to make arrangements with your clients and have them pay off an account instead of settling it once off, get an acknowledgement of debt. This serves as a contract and will have all the payment terms in. Interest rates, payment amount, pay date, banking details, terms for when they default, etc.

Is reckless credit my get out of jail free card?

Debt Collection, Debt Prevention

In simple terms, credit is considered to be reckless if it is clear from the outset that the Consumer will not be able to afford the repayments, or if no affordability test was done at all.
In our case study (below), the affordability test was indeed done, but it was clear that she would not be able to afford the repayments. It, therefore, seems that the credit was granted recklessly.

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Understanding Dispositions Made In Business Rescue and Liquidation: The Macneil Plastics Case

Debt Collection, Debt Prevention

In a recent ruling by the Pretoria High Court in the case of Macneil Plastics (Pty) Ltd v Van Den...

Navigating Business Rescue and Liquidation: The PFC Properties Case Explained

Debt Prevention, Debt Collection

Unpack the Supreme Court of Appeal’s decision in PFC Properties (Pty) Ltd V Commissioner, SARS, highlighting the critical distinctions between business rescue and liquidation, and the legal ramifications of misusing business rescue procedures under South African law.

Limpopo High Court Rules on Company Winding-Up

Uncategorised, Debt Collection, Debt Prevention, Debtors, Debtors book

Explore the Limpopo High Court ruling in Rooplal N.O vs. Rezevation 4-2 Communication CC, a critical case on the winding-up of companies due to financial insolvency under South African law. Understand the legal standards for commercial insolvency and its impact on businesses.

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010 109 1089

Debt Prevention

Is a Surety’s Liability Limited to the Initial Credit Agreement? Insights from Actisol 145 CC v Seryt Tyres

The Cold Hard Truth About Debt Review

Debt Review Upliftment versus Rescission of a Debt Review Court Order

ABC’S (ALWAYS BE COLLECTING) – REASONS WHY DEBTOR’S MANAGEMENT IS A FULL TIME JOB

IS THERE ANY WAY TO EXIT DEBT REVIEW AFTER THE COURT HAS GIVEN AN ORDER

The Truth About Debt Review

What Should You Do If The Sheriff Threatens To Remove Assets

Why you need an acknowledgement of debt in place with your debtor

Is reckless credit my get out of jail free card?

Recent Articles

Understanding Dispositions Made In Business Rescue and Liquidation: The Macneil Plastics Case

Navigating Business Rescue and Liquidation: The PFC Properties Case Explained

Limpopo High Court Rules on Company Winding-Up

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