Judgement settlement

[marco79]

I have been blacklisted and issued with a judgement because of a loan I defaulted on.

I have been paying the lawyers about a year already. My balance is about R10000 currently and I want to pay it off in one go. What is the maximum discount I can expect/request?

I called the lawyers about a month ago and they said I can get a 20% discount if I wanted to settle the account. If I can recall I was offered a 40% discount over the chrismas season. Can I request a 40% discount or can I try my luck and ask for a 50-60% discount?

Will the lawyers clear this listing with the credit bereau?

 

[marco]

How old is this debt? Was it with a bank?

Banks normally sell bad debt to DEBT COLLECTION CO's after some time. From then onwards the bank has nothing to do with your debt but they might use the bank's letterhead to intimidate you and send you letters of demand.

Remember that their interest plus their charges cannot more than double the amount owed at the time of default. (Mine went 3* more so now I refuse to pay.)

Give me more info and I can help you. I have gone through this and won.

 

[Voldemort]

How old is this debt? Was it with a bank?

Banks normally sell bad debt to DEBT COLLECTION CO's after some time. From then onwards the bank has nothing to do with your debt but they might use the bank's letterhead to intimidate you and send you letters of demand.

Remember that their interest plus their charges cannot more than double the amount owed at the time of default. (Mine went 3* more so now I refuse to pay.)

Give me more info and I can help you. I have gone through this and won.

Ag its done, im 100% debt free now, thats all i care aboot

Dont mess with MTN though, yeesh.. they charged me 3K extra over 4 monthssssss

 

[marco]

By the way, your listing will stay on the ITC for 5 years whether you pay or not.
You have missed the amnesty date.

 

[Voldemort]

By the way, your listing will stay on the ITC for 5 years whether you pay or not.
You have missed the amnesty date.

Ah well there aint anything im gonna need credit on in the next 5 yearsssssss, not a house, not a car, not tuition fees, nada

Bit of a bummer i guess, but not the end of the world