Good dayI would like advice as to what a...

Asked by fazzyb on 16-01-2018 15:21:54
Question posted in the General Law category relating to North West
Question value: R 0.00

Good day

I would like advice as to what are my best options as far as debts is  concerned .  My husband and I opened a business in 2011 , unfortunately we were in trouble by 2013 and took a bank overdraft of R200 000 to sustain the business however we fell deep into trouble and had to liquidate in 2015, however our attorney nevernotified the bank of the liquidation and never asked us anything with regards to the liquidation as we signed surety in our personal names for that overdraft amount,furthermore we moved cities and have been employed and we received a judgement against us in October last year for the overdraft amount, the banks attorneys are forcing us to pay them R1000.00 amonth andwe cannot afford to do it, also in September 2017 my husband had received a tax refund from SARS and the bank had takenR25000.00 from that money and are arguing that they are using that money for the the interest of the overdraft.  My husband has signed up for debt counselling in October last year, in his personal capacity , I have never ever had accounts in my name except my fnbcredit card and its always been upto date , however now due to this business debt I have ajudgemnet against my name. What are our options going forward as we have ah ome loan and a car that’s paid up.it seems to me form what the attoney said to me they bought the loan from fnb and we need to pay them banck and they have our bank statemnts and are not willing to accept the agreed amount we said we can afford

Kind Regards

Ask your OWN Legal Question!

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 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.