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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.
John has a big problem. He is living in a fully furnished flat that he is renting. The furniture...
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.
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.
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...
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.
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.
I Have Received A Summons – What Does This Mean?
Having a Sheriff serve a Summons on you could often be a very scary thing! This is especially true if you know nothing about a Summons and what to do with it. In this article, Kaylee Tree discuss a few important points to remember once you have received a Summons. #Summons #DebtCollection #LetUsHelpYou #StayCalm
In this article, Cathleen Breedt looks at the process of executing debt collection Court Orders against a debtor’s bank account.
How To Negotiate On Payment Terms with your clients can be difficult to say the least. You want what is due to you, however, having regard to the impact of the pandemic, we need to start looking at our accounts differently. If you are not willing to negotiate at...
The South African Nation is currently under Lockdown and a big question is how to approach bad debt during the lockdown. Most businesses have ground to a halt and we are holed up on our homes waiting it out. Although some business can be done remotely, it is safe to...
In this case study, we help you get a clearer view of debt prevention and how an attorney can help you minimize your exposure to bad debtors.
I have very recently helped a company that had way too many bad debtors bring the bad debt under control using Vermeulen Attorneys’ innovative and novel methods that we have termed “Debt Prevention”
The company that I assisted was an attorney’s firm, which is quite ironic since attorneys have the skill and know-how to sue their own debtors. Why would bad debts spiral out of control? Simply because, as business owners, we are focussing on doing work for paying clients, not chasing delinquent debtors. Chasing these outstanding debtors not only takes time but for most business owners also means a financial output in attorney fees.