Noseweek article on MDB and VVM attorneys

ghoti said:
Agree 1000% We need way better regulation.

I have an employee that is constantly hounded by these crooks. They are vultures of the lowest calibre. My employee`s debts has also being prescribed!
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Trouble is who regulates? Who decides who regulates? When the system is rotten to the core, it's difficult to make it work.
 
IPX-SPX said:
Trouble is who regulates? Who decides who regulates? When the system is rotten to the core, it's difficult to make it work.
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So you fix it. Its like if we have a crime problem. We dont get rid of it by getting rid of the police. We improve the police.
 
ghoti said:
So you fix it. Its like if we have a crime problem. We dont get rid of it by getting rid of the police. We improve the police.
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Totally agree... and we hold the government accountable. My point isn't to do nothing, but be prepared for an uphill battle as long as we have a generally corrupt government in power. Speaking as someone from the EC.
 
Yeah they're total crooks. They know full well that a debt has prescribed and still try and argue over it.
 
Hold on before you call people crooks, however distasteful you might find them or their methods.

The rules of prescription merely say that legal action in the courts prescribe after a certain period. It does not extinguish the debt itself, but merely says that the creditor doesn't have recourse to courts after a certain period.

The debtor still owes the money. Morally. Legally. In basic normal natural justice the debt remains. It is entirely reasonable that creditors use all legal means available to them to recover the money the debtor owes.

In this whole sorry saga we should not forget that there is one thing even more distasteful and damaging to society than bolshy threatening debt-collectors ... and that is people who borrow money and don't pay it back, relying to legal technicalities to escape their liabilities.

It is a basic requirement of social living that when you freely give your word to bring your side of a bargain, that the other party rely on your word. Debt collection agencies live in the shadow created by people who don't honour their word.

BTW, pushy collectors like VVM are easily unpuffed. I've taken them on twice and won.
 
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patrick said:
Yeah they're total crooks. They know full well that a debt has prescribed and still try and argue over it.
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Yeah, it is up to the defendant to raise prescription. If I take default judgment on a prescribed debt, not even the magistrate / Judge can raise prescription mero motu...
 
Arthur said:
The rules of prescription merely say that legal action in the courts prescribe after a certain period. It does not extinguish the debt itself, but merely says that the creditor doesn't have recourse to courts after a certain period.
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Incorrect. The Prescription Act (section 10(1)) states that a debt is extinguished by prescription after the lapse of the period which in terms of the relevant law applies in respect of the prescription of such debt.
 
IzZzy said:
Incorrect. The Prescription Act (section 10(1)) states that a debt is extinguished by prescription after the lapse of the period which in terms of the relevant law applies in respect of the prescription of such debt.
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You are quite correct - I phrased that badly. What I meant to say is that the extinction of the debt is a legal fiat, rather than a reflection of the underlying reality. In the real world, the ordinary precepts of justice require that one pay one's debts however long they happen to perdue, regardless of what a legislative fiat happens to determine.
 
A new tactic by MBD.

After the liquidation of my business in 1997, Standard Bank sold my bad debt. At that stage it was around R17 000.00. It was then resold as "scrap debt" to MBD and I have been paying it every month without fail. Last month I get a letter that states that I still owe R187 000.00. WTF. It cannot increase more than double at the time of default. Charges, admin fees and interest.
Now his will blow your mind.

They send me an SMS that they have changed banks and give me banking details. A new account No. and a new Ref No.
So I deposit my next payment into that account.

Lo and behold. I get an email thanking me for a payment for another outstanding Standard Bank Acc. that I know nothing about dated 2005. The email has an attachment with an amateurish SB logo stating that I owe R8k. No letterhead.
I have just REVIVED some old acc. that I know nothing about.

So now the Prescribed acc. is no longer Prescribed as I made a payment into it. The law states that it will be Prescribed 3 years after the last activity on it.

Now I am stuck with 2 payments and get pestered daily as to why I missed the payment on the first Acc.

I will not pay this second acc. anymore. I have read many such reports on the net about this. They have not summoned anyone yet as they know they are breaking the law.
 
marco said:
A new tactic by MBD.

After the liquidation of my business in 1997, Standard Bank sold my bad debt. At that stage it was around R17 000.00. It was then resold as "scrap debt" to MBD and I have been paying it every month without fail. Last month I get a letter that states that I still owe R187 000.00. WTF. It cannot increase more than double at the time of default. Charges, admin fees and interest.
Now his will blow your mind.

They send me an SMS that they have changed banks and give me banking details. A new account No. and a new Ref No.
So I deposit my next payment into that account.

Lo and behold. I get an email thanking me for a payment for another outstanding Standard Bank Acc. that I know nothing about dated 2005. The email has an attachment with an amateurish SB logo stating that I owe R8k. No letterhead.
I have just REVIVED some old acc. that I know nothing about.

So now the Prescribed acc. is no longer Prescribed as I made a payment into it. The law states that it will be Prescribed 3 years after the last activity on it.

Now I am stuck with 2 payments and get pestered daily as to why I missed the payment on the first Acc.

I will not pay this second acc. anymore. I have read many such reports on the net about this. They have not summoned anyone yet as they know they are breaking the law.
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This makes Nigerian 419 scams look amateurish. Absolutely shocking.
 
Luckily I have some idea of the law after my internet research. But what about those that do not have the privilege of internet?

My heart bleeds for them. They are being scammed and they don't know it or cannot understand the law.

These vultures make a living with picking on the bones of the downtrodden.
 
necro alert!

These VVM pigs are getting on my nerves now.

Every morning, without fail they call me and as soon as I realise its them I hang up.

Today they've crossed the line! A few minutes ago they called on my bloody office phone - how they got it I have no idea! They've got a fscking nerve! :wtf:

I wish there was a law prohibiting them from contacting people on their companies' phones

This is for a Telkom account which I settled about two years ago already. They want me to prove I settled the account. Who keeps records of things so old.

Any ideas?
 
Something I forgot to mention they've sent me a mail as well.

1. We refer to the above matter and confirm that we act on behalf of our client whom instructed us to address this letter to you.

2. It is common cause that you are a director of <company name removed> and this letter is therefore addressed to you in your personal capacity as well as your capacity as a director of <company name removed>.

3. You are indebted to our client in the amount of R 4,012.01.

4. It may be prudent to bring to your attention the fact that our client may proceed with relevant steps contemplated in the Companies Act (Act 71 of 2008) which may result in you being disqualified or becoming ineligible to act as a director of <company name removed>.This is excluding our clients remedies in terms of the Insolvency Act (Act 24 of 1936).

5. As a reminder, if your estate is sequestrated, you are automatically disqualified to act in the capacity of director in terms of the Companies Act.
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My wife and I own this company. I'm more of a silent parter as she's the one actively involved in the day to day running thereof, but still, this mail makes me the moer in!
 
YingYang said:
necro alert!

These VVM pigs are getting on my nerves now.

Every morning, without fail they call me and as soon as I realise its them I hang up.

Today they've crossed the line! A few minutes ago they called on my bloody office phone - how they got it I have no idea! They've got a fscking nerve! :wtf:

I wish there was a law prohibiting them from contacting people on their companies' phones

This is for a Telkom account which I settled about two years ago already. They want me to prove I settled the account. Who keeps records of things so old.

Any ideas?
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These people give honest attorneys' a bad name. Tell them if they allege you owe something, then prove it else GTFO.
 
YingYang said:
Something I forgot to mention they've sent me a mail as well.



My wife and I own this company. I'm more of a silent parter as she's the one actively involved in the day to day running thereof, but still, this mail makes me the moer in!
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Who is their client? You need to respond denying that you are indebted to their client, and thanking them for the fruitless lesson in law, and reminding them if they are disbarred, they are automatically disqualified to act as an attorney in terms of the Attorney's Act.
 
IzZzy said:
Who is their client? You need to respond denying that you are indebted to their client, and thanking them for the fruitless lesson in law, and reminding them if they are disbarred, they are automatically disqualified to act as an attorney in terms of the Attorney's Act.
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LOL! This is in reference to the aforementioned Telkom account.
 
In that case, just deny liability on the basis that the account was fully settled previously. If they still believe the account is in arrears, they are welcome to prove it.
 
IzZzy said:
In that case, just deny liability on the basis that the account was fully settled previously. If they still believe the account is in arrears, they are welcome to prove it.
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thanks for the advice
 
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