For a proper understanding of the philosophy of the South African Law of debt collecting, it is first of all necessary to have a broad understanding of the rights of debtors and creditors.
When a debtor is unable to meet his obligations, various procedures for addressing the debt problem are available to both the debtor and creditor. The creditor may, for example, demand payment from the debtor. If the debtor fails to pay, the creditor can issue summons and obtain a civil judgment against the debtor.
If the judgment debt is still not paid, the creditor may issue a warrant of execution to have the debtor's property attached. The property so attached, can then be sold in execution and the credit is entitled to satisfy his claim from the proceeds of such sale. If the debtor has no movable or immovable property that can be attached, the creditor may by way of an emolument attachment order attach part of the salary of the debtor to satisfy the creditor's claim.
Unfortunately it costs money to collect such debts and most creditors are reluctant to pay more money to collect bad debts. However, if a creditor does not take any steps to collect what is due to him, he may lose his claim due to prescription.
The best way to collect the debt is to be cost effective, not on an individual basis, but overall. Even if only a small percentage of the debt is collected, it means money in your pocket, which you would not have otherwise.
That is where we excel. Give us the opportunity to prove the aforementioned.
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