Vehicle Repossession/Surrender

[F1 Fan]

Need advice. He has an expensive contract with Telkom. Basically it is in arrears and again he has no money to pay the arrears. He has requested a cancellation, of which there is a penalty. Now, they are not willing to cancel the contract until he pays the arrears. So basically the contract will continue. Is this legal?

 

[ToxicBunny]

Need advice. He has an expensive contract with Telkom. Basically it is in arrears and again he has no money to pay the arrears. He has requested a cancellation, of which there is a penalty. Now, they are not willing to cancel the contract until he pays the arrears. So basically the contract will continue. Is this legal?

Quite probably...

But he can't pay either, so its ultimately academic.

He needs to go to debt rescue or whatever it is, NOW.

 

[Fazda]

Quite probably...

But he can't pay either, so its ultimately academic.

He needs to go to debt rescue or whatever it is, NOW.

^^^This!

This guy is in a bloody mess and the sooner he allows himself to be dragged out of it the better. He's on a one way ticket to nowhere.

 

[F1 Fan]

Quite probably...

But he can't pay either, so its ultimately academic.

He needs to go to debt rescue or whatever it is, NOW.

Managed to find him a better job, with a better salary. Not a major difference but he will be able to start paying the debts including the car. Not keen on putting him on debt review, as he may lose the job and will affect his future prospects. So the decision we took was debt review is not an option.

Now, regarding Telkom, he will be able to repay Telkom but with a repayment plan. The problem is, if the contract is running, he will first need to fork out for another 9 months and then ultimately still pay the arrears. I'm trying to get it cancelled so that he can start paying against the arrears immediately. Any ideas? In fairness to him, he has been trying to cancel it for months, even before it went into arrears and Telkom did nothing to assist.

 

[Jet-Fighter7700]

Watch him like a hawk now, so he dosent fall into more debt,
Instill some basic financial sense into him.

 

[ToxicBunny]

Managed to find him a better job, with a better salary. Not a major difference but he will be able to start paying the debts including the car. Not keen on putting him on debt review, as he may lose the job and will affect his future prospects. So the decision we took was debt review is not an option.

Now, regarding Telkom, he will be able to repay Telkom but with a repayment plan. The problem is, if the contract is running, he will first need to fork out for another 9 months and then ultimately still pay the arrears. I'm trying to get it cancelled so that he can start paying against the arrears immediately. Any ideas? In fairness to him, he has been trying to cancel it for months, even before it went into arrears and Telkom did nothing to assist.

Does he have the job already? as in signed the contract etc etc etc?

If so, get him on debt review asap.
Telkom are owed money, they will possibly entertain a payment plan but they will still list him on ITC etc, and screw him over. Of course Telkom did nothing to assist him cancelling it, he has a contract with them, they are not a charity.

Dude, in all honesty, this person sounds like someone who doesn't need "help" from family and friends, he needs to be treated like a 2 year old and put on debt review... if he isn't, then he will be sequestrated in very short order and that is considerably worse for him.

 

[F1 Fan]

Does he have the job already? as in signed the contract etc etc etc?

If so, get him on debt review asap.
Telkom are owed money, they will possibly entertain a payment plan but they will still list him on ITC etc, and screw him over. Of course Telkom did nothing to assist him cancelling it, he has a contract with them, they are not a charity.

Dude, in all honesty, this person sounds like someone who doesn't need "help" from family and friends, he needs to be treated like a 2 year old and put on debt review... if he isn't, then he will be sequestrated in very short order and that is considerably worse for him.

No, starts 1 May and buy drawing up contract. Again debt review not an option. I agree, because at this point Im having to treat him like a two year old.

Referring back to Telkom, can they deny a contract cancellation if it is in arrears? Who can I contact in that industry? I suppose just ICASA?

 

[Skywalker786]

No, starts 1 May and buy drawing up contract. Again debt review not an option. I agree, because at this point Im having to treat him like a two year old.

Referring back to Telkom, can they deny a contract cancellation if it is in arrears? Who can I contact in that industry? I suppose just ICASA?

Telkom will cancel the contract only if u settle in full

 

[thehuman]

And when you cancel contract it is normally the amount you pay per month x outstanding months

 

[Rouxenator]

How on earth does one adult person get himself in so much poo-pooh ? I have various avenues on which I can squander a boatload of money yet I don't because the consequences are all to clear to me. How does on just ignore that?

 

[akescpt]

How on earth does one adult person get himself in so much poo-pooh ? I have various avenues on which I can squander a boatload of money yet I don't because the consequences are all to clear to me. How does on just ignore that?

I'm thinking we don't even know the whole story. OP don't you want to lay it out because you bring it in bits and pieces.

 

[Priapus]

I'm thinking we don't even know the whole story. OP don't you want to lay it out because you bring it in bits and pieces.

I think we all have a pretty good idea whats going on here at this stage. I do feel somewhat sorry for this poor (no pun indented) guy. He is lucky to have someone like you in his life, F1 Fan. Well done for doing all you can. Not everyone is good with money and managing it and they need a helping hand where possible.

 

[froot]

I don't know what to say. His "friends" convinced him to buy the car from another "friend" because

That wasn't a friend. That was an as$hole.

 

[Drifter]

Managed to find him a better job, with a better salary. Not a major difference but he will be able to start paying the debts including the car. Not keen on putting him on debt review, as he may lose the job and will affect his future prospects. So the decision we took was debt review is not an option.

Now, regarding Telkom, he will be able to repay Telkom but with a repayment plan. The problem is, if the contract is running, he will first need to fork out for another 9 months and then ultimately still pay the arrears. I'm trying to get it cancelled so that he can start paying against the arrears immediately. Any ideas? In fairness to him, he has been trying to cancel it for months, even before it went into arrears and Telkom did nothing to assist.

How can he lose his job by volunteering for Debt Review? That is THE best thing he can do now. They will structure a payment plan for him, get interest rates reduced, and he CANT get any more debt.

 

[herbertk]

How can he lose his job by volunteering for Debt Review? That is THE best thing he can do now. They will structure a payment plan for him, get interest rates reduced, and he CANT get any more debt.

Unless it financial sector I also don't see the issue, but new employers might do a credit check not sure how debt review would impact this.

 

[Priapus]

Unless it financial sector I also don't see the issue, but new employers might do a credit check not sure how debt review would impact this.

I don't believe an employer has any business looking into a prospective employee's financial history. So yeah, I also don't see how he'd lose his job.

 

[herbertk]

I don't believe an employer has any business looking into a prospective employee's financial history. So yeah, I also don't see how he'd lose his job.

I know some do check though had to sign a disclaimer to allow it, but I don't think most places will do it. Big corporates have the luxury of choosing perhaps but not all.

 

[Priapus]

Why would they care about the financial history? First time I am hearing about this.

 

[Drifter]

Why would they care about the financial history? First time I am hearing about this.

Financial institutions do a credit check, but only to check if their are any fraud listsings, they cant discriminate against you if you have a bad credit history, heck that may be one of the reasons why your are trting to get a better job, to improve yuor situation.

 

[Priapus]

Financial institutions do a credit check, but only to check if their are any fraud listsings, they cant discriminate against you if you have a bad credit history, heck that may be one of the reasons why your are trting to get a better job, to improve yuor situation.

The financial institutions I can understand them checking for illegal stuff and doing their background checks. Like you say, they cannot hold anything against you if your credit history is shoddy. Its non of their business.