Good morning, I hope you are well?My wif...

Asked by Rolf on 02-09-2021 07:36:00
Question posted in the National Credit Act Law category relating to Gauteng

Good morning, I hope you are well?

My wife and I owned a Pty(ltd) business which closed down in 2019. There is a business overdraft which we have been paying off monthly since the closure. However we do not have the means to pay anymore. Can the bank attach our house, and what are the implication if I default on the repayment?

Thank you, regards Rolf and Ivette 

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