The Bank will institute appropriate reco...

Asked by Rodger on 11-06-2024 07:55:50
Question posted in the General Law category relating to Free State

The Bank will institute appropriate recovery proceedings to enforce our contractual rights, which action may include: 1) Handing over your account for the institution of litigation proceedings Please note that by exercising these options, this will not terminate Absa's existing contractual agreement with you nor prejudice any rights we have. I received this from the bank,yesterday I have been unemployed since 31 January 2021. What does is mean for me?

If you would like to view the entire answer, you will need to either login or register a FREE account.

Disclaimer

DISCLAIMER: Advice or answers from Lawyers on South African Legal Advice are not substitutes for the proper advice of an Lawyer. South African Legal Advice is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Lawyer who assists with your question is not your Lawyer, and the response above is not to be considered to be legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The responses above are from individual Lawyers, not South African Legal Advice. The site and services are provided “as is”. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.