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Car Repossession While on Debt Review

Questions & AnswersCategory: JudgementsCar Repossession While on Debt Review
Sicelo zwane asked 11 months ago

So I started with DebtSafe about 6 months ago. I have a Ford Figo and was behind on my instalments. I was then provided with a consolidated amount that I was paying towards the lawyer fees and then 6 months into it I got into a car accident which put me behind by a month.

I spoke to the guys at DebtSafe and we agreed on a payment arrangement which became steep 3 months into it which led to my review being cancelled.

So I now have the repo man showing me papers saying that I need to make a 50% payment of the amount owed for the car which is 25000.

Now since I can’t take a loan now and my review was cancelled what’s the best way forward for me in this case? I’m stuck between a rock and a very hard place.

Please help.

1 Answers
Carien Kruger Staff answered 11 months ago

Good day,

Thank you for getting in touch.

We are extremely sorry to hear about your personal setbacks and current situation.

The lawyer’s fees you are alluding to was to refer your debt review application to the court to obtain a court order which would have protected your against your creditors during the debt review.

The best way forward is to get a payment arrangement in place with the bank regarding your vehicle as soon as possible because your debt review has been cancelled. 

If you are not going to hand over your vehicle to the repo agent the bank could proceed with legal action against you which will implicate more costs towards the account.

If you need more information or assistance you are welcome to contact us on 0861 100 999.

Kind regards