Ever since Lord Mkhwanazi came forward
We havenโt seen this type of content from big boys ๐ญ๐ญ๐ญ
Everyone is acting broke nowโฆitโs only Mysol ๐ญ
They present the consent documents as โcourt papersโ , people sign without knowing they have an option to say no and that would force the bank to follow the court process.
They told me if I sign it just means Iโm acknowledging that they came to see the car , I refused.
I paid the arrears in the next 6 months before court process started
Quick tip..
If thereโs a chance your finances will be sorted in the next few months โฆdo not sign those surrender documents.
Do not sign away that vehicle.
They will try to convince you that itโs just for safe keeping until you bounce back โฆitโs a lie.
they will auction your R 500k vehicle for R100k and youโd still owe the bank a huge shortfall.
It takes a couple of years (sometimes even more) for them to obtain a court order that terminates the agreement and orders repossession .
Buy yourself sometime by not signing the consent to repossess, by the time they issue summons youโd likely be in a position to settle the arrears.
My friend whose in this debt collection business always educates me about these things unfortunately sometimes people donโt know they have options until itโs too late.