Never ever trust Banks. They do not have your well being at heart. This morning in the Rapport newspaper there was another article where the following came out : "Irrespective of the fact that I was negotiating with the bank (FNB) and during that process they attached and sold my house on auction" Is this an isolated incident? You can bet your life on it that is not. My own experience just last month is another. My bank (ABSA) was in possession of a bank guarantee from a buyer of my property (Please note a bank guarantee - not just the possibility of something - an actual guarantee! ) they still issued summons against me - resulting in me defending the action. Normally they would see this as a mistake but what do you think happened ? When I defended they tried to apply for immediate judgment. If I was just another ignorant client ( of which they have millions) I would have been the loser.
Suddenly the last few days the banks (apparently in conjunction with the National Credit regulator ) has started an advertising campaign inviting clients in distress with their debt to SPEAK TO THEIR BANKS!
Fall for this trick at your peril ! Beware what they ask you to sign - SIGN nothing ! and I mean Nothing! Do not make them promises that you know you cannot keep. Do not sign anything !
If you even consider speaking to them take a debt counselor or an attorney with you - Rather pay an attorney this one time - You will not be sorry.
If I had the money I would put full page advertisements in the Newspaper to warn people against this very evidently new trick to repossess, get quick judgements, defraud clients and I can think of a few other words actions of the BANKS.
Banks will have to clean up their acts before clients in distress can TRUST THEM !
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