“In life, we never lose friends, we only learn who the true ones are” (Unknown) Lending money to a friend or family member in need sounds like a natural and informal sort of thing to do. But beware – if relations sour and your friend/relative can’t or won’t repay you, you may not be able […]
Lending to a Friend or Relative – When Must You Register as a Credit Provider? Read More »
“How sharper than a serpents tooth it is to have a thankless child!” (Shakespeare) “Family helps family in times of need” – that’s been part of human culture since long before the dawn of history but be sure to observe all legal formalities. A recent High Court decision provides an excellent example of the risks
The Trouble with Family Loans: A R540,000 Lesson Read More »
If you are one of the many employees retrenched or put on short pay or unpaid leave as a result of the COVID-19 crisis and lockdown, you will be wondering how to cover the monthly instalments on your mortgage bond and other credit agreements. You have no doubt heard of the “payment holidays” banks are
Unemployed, Can’t Pay Bond and Credit Instalments? “Credit Life Insurance” May Save You Read More »
“…prescription started its deadly trudge on the day the loan at issue in these proceedings was advanced” (extract from judgment below) You will know that most debts prescribe (become unclaimable) after 3 years, so as a creditor you need to know exactly when it starts running. From that moment on, the clock is ticking… A recent Constitutional Court
Lending Money Repayable “On Demand”: Beware Prescription! Read More »
