by VDT Attorneys | Jul 26, 2023 | Debt, Tax
The conversion or exchange of debt into shares is called a concession or compromise. This means that where a debt is converted or exchanged for inadequate consideration, the resultant concession or compromise may amount to a debt benefit. The tax that will be...
by VDT Attorneys | Feb 8, 2022 | Debt, Debt Collection, Dispute resolution
To answer your question we must turn to the National Credit Act 34 of 2005 (“NCA”). The NCA allows the person that is owed money (the creditor) to, in terms of a credit agreement, levy additional amounts over and above the amount that is owed, such as interest, fees,...
by VDT Attorneys | Feb 25, 2020 | Debt, Debt Collection, Eviction
Uitwinning deur skuldeisers is in vandag se ekonomiese klimaat ‘n toenemende realiteit. Enslin Nel verduidelik wat die regsposisie van boere is rakende die hantering van die uitdaging in hierdie regstreekse uitsending van GROOTplaas op kykNET. Onderhoud datum:...
by VDT Attorneys | Oct 7, 2016 | Collections, Debt, Litigation
It is not correct that attachment orders, or legally more correct, emolument attachment orders (“EAO’s”), against your salary (generally, however incorrectly, referred to as ‘garnishee orders’) are no longer allowed and that these orders will now immediately be...
by VDT Attorneys | Jul 7, 2016 | Debt, Litigation
Before determining when a debt prescribes, one must first understand the concept of “extinction of debts by prescription.” The Prescription Act 68 of 1969 states that “a debt shall be extinguished by prescription after the lapse of the period which in terms of the...
by VDT Attorneys | May 9, 2016 | Credit Act, Debt
As a consumer you have certain rights provided by the National Credit Act (“NCA”) which do not fall away when you default on your credit agreement. Section 129 of the NCA determines some of these rights by obliging credit providers to provide written notice to a...
