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Thread: How to charge interest?

  1. #11
    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by ruth View Post
    Something else related, is a vehicle. That is mentioned in the contract by make and reg number. This vehicle was repo'd by the bank, as he wasn't paying it. As far as I know, this has now been auctioned off. So I have no way of getting that car back. What do I do now?
    Obviously he can't give you what he no longer has posession of, so I suggest convert that portion of the claim to value - ie reduce it to Rands and cents.

    Ascribing value is always a good thing anyway. When it comes to delivering property there is always the issue of whether the supplier has the right to give away ownership of the property in the first place - particularly true when it comes to vehicles still under finance.
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  2. #12
    Platinum Member sterne.law@gmail.com's Avatar
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    You could sue him through the maintenance court or the normal magistrate or High Court.
    Probably the civil court will be better -
    1. You claim the maintenance amount
    2. You claim the amount the value of the car would be today(book value will be a close bet
    3. You claim the interest on the maintenance amount according to how the payment was scheduled
    4. You claim damages for the period you did not have use of the car
    5. You claim costs of the action

    If the claim exceeds R100 000, the magistrates court will not have jurisdiction, which makes it a high court matter, which in turn tend sto be more expensive. If both of you agree, in writing, then the matter can be brought before a magistrates court with relevant jurisdiction.
    Depending on the final contract, you will probably find it is already an order of the court which means you could proceed to get a writ of execution on the contractual amount outstanding. The maintenance payment is an actual amount and there is therefore no dispute or need to work out the amount owing. this would allow you to get the writ for this amount and thereafter sue for the damages and the car element.
    The reason for non payment will determine your course of action going forward. If your ex is genuinely in a financial tight spot, then you may consider giving him some new terms. The fact that you had a divorce order with a lump sum payment makes me believe that he is a good earner or has own business. I would also suggets that if giving new terms that you get some legal advice. you do not want him to renege and not pay on time and then claim that prompt payment has never been an issue.
    Of course if his non payment is merely malicious or not caring, then I do not think you have any other option but to sue for the money.
    Last edited by Dave A; 16-Aug-10 at 10:12 AM.
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

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  4. #13
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    I worked as an estate agent. When I left the company they didnt pay out my commission. It is now 10 years later and still busy with court cases. The change co names. Didnt pay cipra fees etc. I want to know how is the interest on this worked out. The amount is roughly R300000.00

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