Asked by the Customer on 23-10-2014 14:57:06
Question posted in the Property Law category relating to Gauteng
My husbands place of business was closed down which left him jobless for 4 months. We were therefore unable to pay our bond during this time. He now has a job but his salary is only half of what he was getting before. I have spoken to the bank about reduceing our payments with immediate effect, but they say they can only reduce it once we have paid the installment in full for a period of 3 months. This would not help us as the whole point is that we don\'t have the money right now. So here is my question. Is what they say fair and what do I need to do next.
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.