[Question] Bond arrears

[ians]

With all the challenges we have been facing for over a year ... throw in another week of looting and destruction ... I cant be the only person behind on my bond.

I have tried contacting Standard bank ... but they inform me that their collection department are no longer dealing with my account.

I started last year with a bang ... worked my butt and made enough money by Jan 2020 to pay all my accounts up to date until till June 2020 ... covid came along and I was all good all my bills were already paid.

However as lockdown continued so it put a lot of strain on ... not only my customers but also my financial situation ... which resulted in me getting behind on my payments.

Things picked up in November and we have been busy enough to cover monthly expenses ... I have been paying all my accounts every months for the past 7 months ... including my bond.

everyday I get calls from collection agencies for the outstanding ... I have just received a statement from the bank which indicates

30 days 0.00
60 days 0.00
90 days 0.00
90 days + R 12345 (not the real amount)

I contacted standard bank collection ... I was told they are not interested in dealing with me ... and gave me a contact number Cindy 011-6316961 which I am told is Standard bank legal department ... tried calling this number there is no answer.

I received an email from easy shell which has all the Standard bank logos etc to inform me that my bond is at summons stage.

You go into long term arrears
then section 129/section86(10)
then summons ... where I am at the moment
next step is Judgement
next Attachment
then auction.

Anyone in legal who can offer?

If I keep paying my bond (and a little extra ) as I have been doing for the past 7 months surely that would prevent them from attaching my house?

Anyone know what Garden fees are ? WTF

[adrianh]

Read this recent case - The Constitutional Court put the bank vultures in their place regarding your exact situation.

https://www.property24.com/articles/bond-arrears-homeowners-favoured/13401

[ians]

Could it be why they started emailing this new plan to home owners?




Dear Client

Your property is now in the summons stage of the legal process, which is as follows:





















This is a long and difficult process that can cost our clients a lot of time and money. During the legal process, property owners can potentially lose over 50% of their property’s value and incur legal costs.

EasySell is a Standard Bank programme that has helped many clients and it can help you to clear your property debt without further damaging your credit score.

We evaluate your property and help you to get the best possible offers from potential buyers so that you clear your property debt. You maintain full control of your property and its sale while we take care of the complex administration for you.

Furthermore, if there is a shortfall (in other words, if the proceeds of the sale do not cover your debt), Standard Bank will pay up to 10% of the shortfall amount, subject to terms and conditions.

Call us on 0860 007 724 or email us at Easysell_SB@standardbank.co.za to see if you qualify for EasySell assistance.

You can also visit https://www.myroof.co.za/ES for more information and to submit an online mandate.

If you have already made arrangements with our Legal team or with Standard Bank Litigation Attorneys, you can ignore this message.

Kind regards


The EasySell Team

[adrianh]

I think so - it is just another scheme to screw you over - The thing is that they want you to do this willingly because they know they can't force you to do it anymore.

What probably happened is that they handed you over to a debt collector (maybe their own).......and then continued to happily accept your payments from that point on. (You probably never realized the two expected payment streams) They would probably say that the money owing to the debt collector is not their problem and you must sort it out with the debt collector. I think that the whole thing is a big scam played out by Standard Bank to screw their customers because they kinda distance themselves from a situation that they created and are perfectly aware of.

Look at this SHYTE on their page - So they will sell your house for next to nothing and then give you a loan to pay the shortfall - well that is just too dandy! - The clowns are looking to minimally cover your outstanding bond - not to sell your house at fair market value.

Should there be a shortfall (in other words, there is still an amount owing on the bond) we will assist in making an arrangement to pay it off interest free over 5-10 years depending on the amount, To help you even more, we will give the client up to 10% discount on the outstanding balance of the home loan account;

I bet if you owe R500k on a R1mil house they will sell it to their cousins for R400k and then bill you R100k for the next 10 years (...oh they will do you a moerse favor and knock off 10% - you only owe them R90k over 10 years)

[Derlyn]

Ians, my brother.

If you do not sign a deed of sale, nobody, but nobody can sell your house.

The 2 best things you can do at the moment is as follows:

Go the Standard Bank easysell route. It will save you at least 4 months, if you hou kop. ( I can advise you how to hou kop )

But before doing that, contact me at derlyn700@gmail.com or phone me at 082 557 4099.

Not afraid of disclosing my particulars, I have nothing to hide, but I am prepared to help a brother in need.

Peace out ... Derek

[ians]

Garden fees more than a thousand rand ...eeeiish ... I would love to know what garden fees are?

[Derlyn]

You have my details.
I'm trying to help.

Peace out .. Derek

[adrianh]

With all the challenges we have been facing for over a year ... throw in another week of looting and destruction ... I cant be the only person behind on my bond.

I have tried contacting Standard bank ... but they inform me that their collection department are no longer dealing with my account.

I started last year with a bang ... worked my butt and made enough money by Jan 2020 to pay all my accounts up to date until till June 2020 ... covid came along and I was all good all my bills were already paid.

However as lockdown continued so it put a lot of strain on ... not only my customers but also my financial situation ... which resulted in me getting behind on my payments.

Things picked up in November and we have been busy enough to cover monthly expenses ... I have been paying all my accounts every months for the past 7 months ... including my bond.

everyday I get calls from collection agencies for the outstanding ... I have just received a statement from the bank which indicates

30 days 0.00
60 days 0.00
90 days 0.00
90 days + R 12345 (not the real amount)

I contacted standard bank collection ... I was told they are not interested in dealing with me ... and gave me a contact number Cindy 011-6316961 which I am told is Standard bank legal department ... tried calling this number there is no answer.

I received an email from easy shell which has all the Standard bank logos etc to inform me that my bond is at summons stage.

You go into long term arrears
then section 129/section86(10)
then summons ... where I am at the moment
next step is Judgement
next Attachment
then auction.

Anyone in legal who can offer?

If I keep paying my bond (and a little extra ) as I have been doing for the past 7 months surely that would prevent them from attaching my house?

Anyone know what Garden fees are ? WTF

@ians - Don't do anything - I will pass this on to the right person tomorrow and see what he says. Lets just say that I have a contact right at the very top of the banking system. I will let you know what he says during the course of the day.

[ians]

Derek ... I dont believe I am the only company or home owner with a bond in the arrears ... I would appreciate it if you or anyone else with information could share with everyone so that people dont have to be bullied day and night with debit collectors harassing us all day till past 10 pm at night and on on weekends ... we have enough challenges and stress to deal with at this point in time ... everyone else I have dealt with understands the situation and are happy to accept payments as and when funds are available.

As I have mentioned to all my family friends and neighbours ... the only way we can help each other ... if we ask ... I dont believe for a minute that I am the only person sitting with 10s of thousands of rands debt ... outstanding bond payments and many other challenges right now ... most of it is not from the past 6 months so I am working every day and weekend trying to pay what I can at this point in time ... however it is going to take a long while to recover from these crazy times we are living in ... this past week what we have experienced in KZN is just going to make matters even worse ... I have lost another week and some which is going to take set us back even more.

At this point in time my focus is on trying to keep my staff employed ... so the first payments are wages ... and then the rest of the money is split up.

After reading Daves post ... we decided to do the same and share out the food we have with the staff ... fortunately for them their money is paid every week and month ... however R25-R50 for a loaf of bread will put a strain on their income.

I dont need more debt for fix this problem ... I dont want to borrow more money to get into more debt to resolve these problems ... what I need is the bank to come to the party with the payment holiday they forced onto me in August last year ... not hand me over and threaten to take away the roof over our head.

[Blurock]

This is crazy. Everyone knows how difficult it was for businesses to survive over the past 2 years. To add this last week of sabotage and destruction would break any camel's back. Banks should realise that they have an obligation and a part to play in getting the communities where they operate back onto their feet. So much more can be done by just being a little lenient and allowing a guy to catch up over time.

We are with you Ian!

[ians]

Debit order reversal ... I have sent email after email after email and still almost a year later ... every month they debit the account and it is returned.

Garden fees* ... R1000.20

I thought I would call Standard bank and find out why I have been billed for "garden fees" ... the call centre person could not answer my question and is busy trying to find out what it is for ... she has to escalate the query ... she said she has never heard of such a fee.

I asked if they could help me during these difficult times ... I was told they cannot assist me as I have been handled over to legal.

So I contacted standard bank collection ... I was told they cannot assist me and gave me the number for cindy again 011-6316961 ... but she doesnt answer her phone and doesnt return calls

Standard bank is not interested in my problems ... I have to deal directly with the debit collectors to whom they have sold all my personal details.

I was told there is a way to extend your bond and they could bend you over and take you for heaps more cash and keep kicking you while you are on the ground ... they call it "rehab"

[Derlyn]

Time for YOU to start being awkward.
Will elaborate tonight when at home.

Peace out .. Derek.

[adrianh]

Are you being billed by two entities?

You say that you have been paying the bond for the past 7 months - have you been paying Standard bank directly?
You say that you are receiving debit orders that are bouncing - is that from a separate entity?
How many months were you in arrears before you started paying again 7 months ago?
How long ago were you 1st notified that you've been handed over?

[Blurock]

This is a message which I have received from my bank today. It displays the right attitude and we will watch to see the implementation. I can also mention that stopping a debit order is not an issue at FNB. Reverting to my bank quickly put and end to the unauthorised debits from MTN. Are you maybe at the wrong bank Ian?

We recognise that the current unrest and protest action across the country may have had a significant impact on your business, public entities and staff.

We are deeply invested in helping impacted businesses and public entities recover and rebuild, and as such we will continue conducting a thorough analysis to better understand the requirements and to assist impacted businesses and public entities in resuming operations as soon as possible.

To further support our clients, relief is currently being structured in several key areas including transactional product support, finance moratoriums and insurance claim processing. Once these relief measures have been finalised, we will be communicating directly with impacted clients.

As a financial services provider and corporate citizen with over 40 000 staff, thousands of suppliers, and millions of clients across the country, this is a responsibility we do not take for granted.

If you have any questions or require further assistance for your business or public entity, please contact your relationship manager, or the Business Desk. Alternately, you can chat securely with a team of bankers using the FNB App by selecting ‘Messages’ and then ‘Secure Chat’.

I sincerely hope that you and your respective families, friends and colleagues remain safe and healthy.

Kind regards
Gordon Little
CEO: FNB Commercial

[adrianh]

I really don't think that it is wise to try and get clever in this situation - the risk of losing the house is too great.

I really think that @ians should seek out the services of a professional accountant or lawyer to assist him. One may end up having to pay the professional R50k but that would be better than fighting a battle where the opposition clearly has the upper hand.

My wife and I have had to revert to an accounting firm to sort out our taxes for the very same reason (It isn't nice to part with R40k paying accountants but that is what they are for - We can rest easy knowing that they are dealing with it on our behalf)