Hi I have stopped trading on my CC due t...

Asked by the Customer on 10-04-2014 09:05:28
Question posted in the General Law category relating to Gauteng

Hi

I have stopped trading on my CC due to the fact the business was not making money and i was getting into debt.

I however owe suppliers money and have in some cases signed AOD.

Can i get blacklisted if the accounts and AOD's were signed in the CC's name?

Should i wait for the suppliers to liquidate me or is this somethin i should proceed with?

Would it be better to negotiate a another repayment plan?

What would the best possible procedure in order to deal with this?

Thanks

Gareth 082 489 0575

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.