Debt Review Upliftment Articles

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

Introduction In the recent case of First Rand Bank v Du Toit N.O and Another (1162/2023) [2023] ZAFSHC 498 (18 December 2023), the High Court of South Africa, Free State Division, Bloemfontein, addressed a pivotal question: does a debt review order terminate upon the...

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...