Covid 19 has caused me to lose my extra ...

Asked by Francois on 29-07-2020 08:24:42
Question posted in the General Law category relating to KwaZulu-Natal

Covid-19 has caused me to lose my extra income from my Wife's business that has ground to a halt with virtually no income at all. I ccould not meet my debts and my Bank only gvae me a 3 Month Extra Loan to cover my Bank Loans and Credit card. Now the 3 Months have expired and I have been told to apply for a further 3 Month extension. I did this Nuerous times but get no feedback from my Bank aprt from another mail suggesting I apply for another 3 Moths extension. As stated i have doen this Numerous times and no extra loan is forthcoming. Now all my debit orders have gone off my Bank leaving me with no funds to cover my other expences. It seems that my Wife's business will be affected for a very long time due to Government restrictions on tourism. I am at wits end as to what to do and consider Debt review or insolvency as it seems that we are only getting deeper into Debt. I need help desperately! 

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


DISCLAIMER: Advice or answers from Lawyers on SA Legal Advice are not substitutes for the proper advice of an Lawyer. SA 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 SA 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.