I am getting divorced we have I have a CC on my name and are the only member. M x have went insolvent last year. The pre marriage contract we agreed that in case of divorce or death I will give him the company he must give me R250 000.00 in exhange. There is a lot of debt and vehicle finance that I sighned suretly for in my personal capacity what will happen in this case? as he can not get finance
I am a the only member of a CC in Truck repairs All the vehicle finance in CC name but I sighned personal surity as well as bank account an Volvo account and Standard bank fleet management. Some vehicles are less than 24 old of the original 60 months repayments..
the CC has a workshop valued atbout R800 000 I have takenout a bond on my name for R500 0000 to build that workshop.
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I would suggest that you get your husband or somebody else to take over your surityships, if he is not able to release you as surety refuse to accept R250k and to transfer membership over to him.
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