A Section 129 notice is a mandatory legal document established by Section 129(1)(a) of the South African National Credit Act 34 of 2005 (NCA). It serves as an official National Credit…
Read moreFalling behind on your vehicle finance is a stressful experience, but the initial phase of default offers a critical window of opportunity. The moment you have missed your vehicle payment,…
Read moreIf you have fallen behind on your debt obligations, the immediate aftermath is often characterised by an overwhelming influx of communication from your credit provider. Modern banking…
Read moreA balloon payment, officially referred to as a residual value in vehicle finance agreements is a lump-sum payment deferred to the end of a financing term. When purchasing a vehicle…
Read moreWhen South African consumers fall behind on their vehicle finance installments, the arrival of a formal legal letter often triggers immense stress. The immediate fear is usually the…
Read moreReceiving a default notice from your vehicle finance provider is an daunting experience, but it is not the end of the road. When you receive this document, it serves as the ultimate…
Read moreThe transition from late payments to active litigation is abrupt. If you have defaulted on your home or vehicle finance and the mandatory 10-business-day waiting period has lapsed,…
Read moreUnder the National Credit Act (NCA) 34 of 2005, a Section 129(1)(a) notice is a mandatory pre-litigation letter that a credit provider must issue before they can legally enforce a debt…
Read moreSince the inception of the National Credit Act (NCA) 34 of 2005, the landscape of debt collection in South Africa has undergone a significant transformation. Prior to 2012, traditional…
Read moreOne of the most terrifying experiences for a South African consumer is having the sheriff of the court arrive at their doorstep to attach a vehicle when they never received a section…
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