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WCLawyer, Attorney
Category: South Africa Law
Satisfied Customers: 15603
Experience:  L.LB (UOVS)
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An agent of the bank want to repossess my vehicle I am one

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An agent of the bank want to repossess my vehicle I am one and half installment behind. I need legal advice on this one
Good day.

This is an info request to assist you better. Please continue on this thread.

Does he have a court order?
Customer: replied 3 years ago.
No he doesnt
Customer: replied 3 years ago.
No he said he's gonna get one soon
Will you be able to settle the arrears within the foreseeable future?
Customer: replied 3 years ago.
Yes. I'm actually continuing to pay the installment while I'm trying to restructure my finances
I am referring specifically to the arrears. The payment and a half that you missed.
Customer: replied 3 years ago.
Yes I will pay the arrears once I have completed my debt consolidation process
This debt consolidation process, is this through a debt counselor?
Customer: replied 3 years ago.
My banking relationship transector sent me the forms today. I'm not sure if it has anything to do with the debt counsellor.
Finally, have you received a notice in terms of section 129 of the National Credit Act yet?
Customer: replied 3 years ago.
Yes he did sent a section 129 notice
1. They cannot repossess without a court order. In order for them to get this court order, they need to apply to court and they need to provide you with a copy of this application before they approach the court. You can then defend this application. The only other way is with your permission. The banks do this, though. They send their agents to try and force you to give consent, sometimes illegal tactics are employed.

2. Obviously, if you pay your arrears, such an application will not succeed.

3. You can negotiate with the bank for a payment plan on how to pay back the arrears and it seems that this is what you are busy with now. This is fine. Continue with that, but if they present you with a plan, make sure you get this in writing. If not, write a letter to the bank within which you confirm this new agreement that you have with them.

I hope this answers your question, but if you have any further questions, feel free to ask them before you rate. It will not cost you anything extra. If you are satisfied with the answer, kindly click on one of the five faces on the ratings page. I don't get anything for this answer unless you do.

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