Case Studies

NDMA helping Consumer to help themselves

 

  • The consumer came to the NDMA in March 2014 to seek assistance regarding his home loan which was in arrears by R49 750. His monthly instalment was R8399.
  • He received notice that the bank would seek judgment with the intention to attach and auction his house.
  • He sought assistance from his attorneys and they told him that they can’t take on the banks as they have strong legal teams. They also wanted a huge upfront fee to help him.
  • He tried to engage with his bank regarding this situation and he was taken from pillar to post regarding the status of his account which made him panic.
  • He advised his bank that he missed payments because he lost his job and the bank offered to assist him with freezing the account for 3 months. This would be OK if he could find a job within three months but this did not happen.
  • His partner made some payments to contribute toward the bond while he was unemployed.
  • For a small fee the NDMA gave the consumer advice on:
  • the process to follow to prevent the attachment of his property;
  • His rights and responsibilities;
  • Guidance on how to structure an offer to the bank to stop the legal action; and
  • The right people to contact within the bank.

The consumer followed our advice. The bank restructured his account and stopped the legal action.