I have not paid my creditors for 3 months while under debt review and summons have been issued. My debt counsellor paid my house a R41.00 a month while it was R1541.00 per month.
I have been trying to pay my house in that 3 months but nothing has really changed. I received a summon from Nedbank for the house and a loan which I’m still paying via PDA. My councellor just says that the bank has a right to do that if there were missed payments. What do I do now as I would like to sell the house on my own.
Thanks for the question
Has your debt counsellor obtained a court order yet? Offering R41 for a home loan is absurd. I know for a fact that no credit provider will accept that through a debt review. They would rather repossess the house and sell it on auction.
I would suggest that you speak to your debt counsellor again to make the bank a better offer. In order for them to proceed with the summons they must have terminated the debt review in a lawful way. I would also suggest that your debt counsellor investigate if the termination was received and if so, whether it was lawful or not. There might be a need to approach an attorney in this matter to go and defend the summons when it is brought before the court.
He can raise the defence that you are under debt review and that they cannot proceed with legal action whilst you are under debt review. They must negotiate in good faith in an attempt to come to an agreeable repayment.
Please do not wait for the situation to escalate beyond repair. You must act quickly and decisively to remedy the situation.