What does the National Credit Act stipulate?

You have probably by now realized that the consequences and the impact of the new National Credit Act are quite severe. We would like to give you a short summary and framework of precautionary steps that should be taken to ensure that you do not fall into the pitfalls created by this new legislation. For […]

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When does interest on a debt start running and at what rate?

Interest starts running as soon as the debt is due and payable. For example where an invoice states that the due amount should be paid within 30 days, interest will start running after the 30 days if the debtor defaults. The prescribed rate is provided in section 1(2)(a) of the Prescribed Rate of Interest Act, […]

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What steps are taken to collect debt?

1. Telephone calls and letters of demand; 2. Visits to home or work address of debtor; 3. Listing debtors as bad payers with the credit bureaus; 4. Summons and execution steps to sell movable and immovable property of the debtor; 5. Emolument attachment orders in respect of the salary of a debtor.

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Watter regstappe kan geneem word om skulde te vorder?

Die volgende prosesse kan gevolg word: 1. Dagvaardings Ons glo nie daaraan om aanmanings aan skuldenaars te stuur nie. As die skuldenaar op die aanmaning sou reageer het, sal hy ook op die dagvaarding reageer. In elk geval verhaal ons die dagvaardingskostes in so ‘n geval van die skuldenaar. Boonop stuur ons kliënte in ook […]

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Wat is ‘n vrywillige distribusie?

By ‘n vrywillige distribusie kontak ‘n skuldenaar self of deur middel van sy prokureur alle skuldeisers en probeer hulle te oorreed om ‘n sekere verminderde bedrag te aanvaar in volle en finale vereffening om die aangeleentheid af te handel en veral om ‘n sekwestrasie van die skuldenaar te voorkom. Die argument word gewoonlik gebruik dat […]

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Wat is ‘n administrasiebevel?

Wat is ‘n administrasiebevel? Dit is ‘n hofbevel ingevolge waarvan ‘n skuldenaar gelas word om maandeliks ‘n sekere paaiement aan ‘n administrateur, gewoonlik ‘n prokureur, te betaal, wie dit dan onder al die skuldeisers van daardie skuldenaar verdeel totdat die volle balans, insluitende rente en regskostes ten opsigte van elke skuldeiser gedelg is. ‘n Skuldenaar […]

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Tips for debt collections

1. The sooner a bad debt is handed over to your attorney, the greater his chances are to succeed with the collection. 2. Effective debt collection begins at the moment when the client walks into your shop, office or practice. 3. Ensure that you at least obtain the following information regarding the debtor when his […]

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