Question posted in the National Credit Act Law category relating to KwaZulu-Natal
Question value: R 0.00
I am currently in arrears with a some of my loans an accounts and i have been for over year reason being is that i hadca business which was not doing to well and i had tried my best to save it but nothing had worked therefore i had closed it down. Now currently i am unemployed for the past 3 months and i am completely broke. At this time it is difficult for me to find employment as i am having issues with depression and have an anxiety disorder which makes it extremly hard to work. At the moment my wife is currently working and that salary is just enough to support us and my 3 kids. Note we are married trough religous manner. At this time we are currently stay in the out house by my parents and they also helping such that we are not really paying any rent until such time i get back on my feet. I do not have any assets no do i own anything of value. What ever furniture we have is my parents or my wifes family had bought.
I owe roughly R47 000
most of is with Standard bank loan of R37000 it was way less but over time with interest it has picked up.
I recently recieved a letter from Standard Bank that they will be handing me in for judgement or summons or something to that affect and mayb the sherrif will come to my house and start attaching my items.
My issue and worry from my parents as well as my wife is if the sherrif of the court comes trough. Can they attache what is not mine as i honestly do not own anything. But we cannot prove this as what ever was bought like 7 years ago. If you see we are really in a bad situation at the moment even with our sofas theres big holes in it ans the spings gave up we use pillows in place just to make it alittle easy to sit on.
Can i get advice of what to do because we have already lost alot and cannot loose any more. And at this i cant even say i will make a payment plan and pay so much every month because i dont have even R1 to pay every month.
I have not spoken or responded to any of the debt collection agenies as i was told it only makes things worse. Please help and advise way foward.