During the Covid-19 pandemic, many people were forced to grant their debtors, payment holidays....
You’ve Given A Payment Holiday, Now What?
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Debtors Articles
HOW TO APPROACH BAD DEBT DURING LOCKDOWN
The South African Nation is currently under Lockdown and a big question is how to approach bad...
Advice From a Debt Collector
Times are tough and we put together some advice from a debt collector.
Our economy has taken a serious knock in recent times. It was frail, to begin with, and Eskom with its constant load-shedding was not making that any easier, but along came the oil war and Coronavirus which caused the entire apple cart to tumble.
Voluntary Liquidation
Liquidation is the process whereby a company or close corporation is wound up due to it not trading actively or its inability to continue trading in the normal course. The liquidation of a company will put an end to the juristic entity’s existence. When winding up a...
Liquidation Of Insolvent Companies
As previously discussed in the article regarding voluntary liquidations where the company being liquidated is solvent, liquidation is the process whereby a company or close corporation is wound up due to it not trading actively or its inability to continue trading in...
Writing off bad debt
Writing off bad debt can be very upsetting. You are owed the money, the services were rendered. Why must I write off bad debt? Here’s what the law says on the topic. Let’s first look at prescription What does it mean? Prescribed debt is old debt that has been written...
What Is Surety?
Ever been asked to sign surety for debt? Should it be your child’s study loan, a bond, a car, on behalf of your company or any other debt. This is a big responsibility. You agree to take over payment and be liable for debt should the ‘principal’ not be able to pay it...
The most common excuses made by debtors
Ever found yourself rolling your eyes at the excuses made by debtors that was supposed to pay their account ages ago? Working with debtors daily we found that there are a few trending excuses. Let’s have a look at the most common excuses made by debtors. The “I never...
Instituting Legal Action – A pre-liminary vetting process
When deciding whether to institute legal action for amounts due to either you personally, or to your company, it is a fantastic idea to do a vetting process before making the decision whether or not to sue. There are several factors which to consider, the most...
What Can The Sheriff Attach?
EXECUTION OF JUDGMENTS- WHAT CAN THE SHERIFF ATTACH? When a creditor is in possession of a judgment in its favour, it is in a position to execute this judgment. What exactly is execution and what goods can a creditor execute upon? What is execution? When judgment is...
Vetting Potential Clients- the GOLDEN TOOL
You have most likely heard the term vetting and not know exactly what it entails. This article will give a better understanding of what the vetting process entails and how it will benefit your company. This article will explain the process in the event of a new client...
Do I need to register as a Credit Provider?
Section 40, as amended, of the National Credit Act determines which entities or persons must register as a credit provider. Now this seems to be quite obvious, if you are in the business of lending monies you need to register. However, the Supreme Court of Appeal has...