Asked by the Customer on 07-01-2020 17:40:02
Question posted in the National Credit Act Law category relating to KwaZulu-Natal
To whom it may concern
I would like to find out, we are over indebted, debt review cannot bring our fees down to cover our living expenses, and we have also considered insolvency, but we dont have any assets to benefit creditors.
What do we do in this regard? Do we make payment arrangements with the creditors? Can they reject a payment offer, and pursue a garnish order? What legal process can we follow.
Please help
Message from the Attorney
Posted by Att. Patrick on 08-01-2020 09:03:37
Hi there,
I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment.
In your instance, you might not really be able to do much... you might need to continue like you are, and simply wait for creditors to go the legal route against you with garnishee orders, etc. Just keep in mind that the total value of the garnishee orders can't exceed 25% of your salary.
This might all mean that you end up going to court a couple of times for each creditor.
Att. Patrick
Please remember this is a dialog if you have follow-up questions please make the required payment, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make payments for their questions.
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