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A 72-year-old Fin24 user is battling to survive due to debt repayments and is desperate for help. He writes:
I am a 72-year-old pensioner. I earn a pension of R3 600 per month. Can you please help me with whom I can contact to help me as I cannot survive.
My debt repayment is R2 000 per month.
Hein du Plessis, CEO of debt counselling institutionDebtSafe, responds:
In order to answer the question, we need more detail, because a number of factors may influence the answer.
What is, however, a concern is that credit providers extended credit to a person who earns only a meagre pension income.
The National Credit Act places a clear obligation on all credit providers to act responsibly when credit is extended to consumers.
The consumer's financial means and ability to repay the loan should be considered by the credit provider.
No loans should be provided to consumers who cannot afford the repayment thereof and to do so will be deemed as a reckless and a direct contravention of the act.
I would visit a debt counsellor and request specifically that reckless lending be investigated by the debt counsellor, in addition to the reduction of the consumer's monthly debt repayments.
In my opinion, this could result in the loan(s) being written off by the court.
- Fin24
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