Question posted in the National Credit Act Law category relating to Western Cape
Question value: R 300.00
I have a quick question regarding dealing with outstanding debts in South Africa. I have relocated overseas and have regular income here, a working visa.
I however have outstanding debts and am blacklisted and have a judgement in South Africa.
Due to no income (I was previously self employed) for a few months from late 2018 it has been difficult to pay my outstanding debts regularly and in full to ensure I have enough money to live here overseas.
Does this mean I am not currently technically/legally employed in South Africa? I was wondering in general what my legal situation might be, can i consider Voluntary Sequestration, or perhaps Debt Review is more appropriate as I have overseas employment?
Or would the be best option be to simply make the best arrangements with creditors directly to pay what and when I am able?
I have been trying to pay what I can regularly each month. As I understand it creditors cannot take legal action as long as I am paying something each month, even if its not the minimum or previously agreed amount?
I have also received a "SETTLEMENT AGREEMENT CONSENT TO JUDGMENT IN TERMS OF RULE 31" from debt collectors (who are calling a family member every day) and I am worried if i sign this I get myself tied into legal obligations that may not be in my best interest. They have also charged me Summons fee and Sheriff’s charges for service of the summons, is that ok?
Can you advise if i should sign something like this and if they can in fact take legal action if I am making regular monthly payments currently towards the debt that matches the minimum amount they want me to sign the agreement for?
I am not sure if I should be signing any documents sent by debt collectors.
Please can you offer some high level guidance on what might be the best way forward in my situation.
PS: Please dont publish this question on your website.