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Articles
- Feature Article
- Beware the Debt Collector - Know your Rights, by Sally
Hetherington
- In Brief
- Want to Protect your Stuff? Put it in a Trust, by Peter
Carruthers
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Little Byte - A little story to put a smile on your face!
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Feature Article: Beware the Debt
Collector - Know your Rights!
by Sally Hetherington, Bizland Webmaster
Few
small business owners have the upfront capital to manage their businesses
on a cash basis - and in fact most require loans to start the business in
the first place. Nowadays it is fairly easy to apply for and receive things
on credit - my personal experience is that many stores in fact send me the
charge card before I have even applied - so keen are they for my business.
But what happens when things get out of hand and you find yourself in a position
where you can't pay and the debt collector comes breathing down your neck?
Always a scary prospect, but with a little forewarning and the law on your
side, be prepared as to how to deal with a debt collector.
The
Debt Collectors Act 114 of 1998 stipulates a code of conduct for all debt-collectors,
requiring that they treat you fairly and act in a legal manner. It should
be stressed, however, that this law does not erase any debt that you may in
fact, legitimately owe, although it does protect you from unlawful means of
debt collection. A couple of these guidelines for debt collectors are outlined
below.
A
debt collector may contact you in person, by telephone, fax, telegram or by
mail, at convenient times and places. A debt collector may not, however, contact
you at unusual times (for example in the middle of the night) without your
consent, as this would be considered to be harassment. Other forms of harassment
include the use of obscene language and consistent nuisance calls. If you
have an attorney, the debt collector should ideally deal directly with him
or her. It is always a good idea to have an attorney as they are able to keep
their emotions out of the discussion and are also more knowledgeable about
the legal aspects of the problem.
A
debt collector may not use force or threaten to use force against yourself,
your family, your business partners or your friends, neither may he or she
use intimidation tactics. He or she is also not allowed to deliberately mislead
you by doing any of the following: simulating legal procedures, indicating
that papers being sent to you are legal forms when they are not, representing
themselves as lawyers, police officers, sheriffs, court officials or other
government representatives when they are not, or making unjustified threats
to enforce their rights. It should be noted that it is therefore illegal to
ask your lawyer friend to write a threatening letter on their legal pad to
try and scare a bad debtor!
A
debt collector is also not allowed to spread or threaten to spread false information
concerning the creditworthiness of a debtor. In other words, a debt collector
may not blacklist you unlawfully, except to a credit bureau.
Of
course the most prudent thing to do would be to try and avoid such situations
entirely, by drawing up a budget and managing your income accordingly. Should
you find yourself in trouble however, it is always a good idea to consolidate
your debts - in other words rather owe a lot to one creditor than a little
to many creditors - one large payment every month is easier to stick to than
a whole lot of little ones. Also try and pay off more than your minimum payment
every month - even if it is only slightly more - you will be surprised how
much faster your debt will be paid off, and of course you will also save on
interest costs. Finally, don't stick your head in the sand when things go
awry - it happens to the best of us. Contact each of your creditors and explain
your predicament - many creditors would rather arrange an alternative payment
plan with you than go the more sticky, unpleasant legal route.
And
a final bit of advice - always read the small print and make sure you understand
the Latin bits before you sign!
Should
you require further advice, contact the Debt Collection Council - see www.debtcol-council.co.za.
In Brief: Want to Protect your Stuff? Put it in
a Trust
by Peter Carruthers, founder, Pete's Weekly and Crashproof
Your Business
As
a small business owner you run the constant risk of losing everything - your
business; your furniture; your life savings; your home; and often your marriage.
We're so busy fighting in the trenches each day that we often don't see the
wood for the trees. There is a superb method - entirely legal - of protecting
the most important stuff in your life. And this technique, singly, is responsible
for most of the success we have when helping people through a business setback.
In fact, it is so important that we no longer even try to bail out folk who
haven't done this - because it's a waste of time. They're going to
face 5 years of intense pain, and there is almost nothing that anybody can
do at that point... Click
here to read on.
Back to Contents
Legalwise
offers a range of legal services, and their website offers free contracts,
such as lease agreements, domestic employment, wills, etc. as well as a free
monthly article. Click
here for more information.
Sanlam
Money Game - The search is once again underway for contestants for this
entrepreneurial game - to be aired on SABC in June. If you think you've got
what it takes - click
here to enter!
UIF
for domestics - The 1 April deadline has been extended until the 30th
of April - Click here
to register.
Free
Software Download - In every business you are bound to need a contract
of some sorts, but often don't know how to word it correctly - and of course
lawyers don't come cheap! Basic Contracts and Agreements
allows you to create legally binding documents in a flash! Click
to download.
*
This is for a regular website with text and non-animated graphics
(within reason), and excludes e-commerce and database development.
Web & email hosting from R200pm.
Back to Contents
Fierce
Conversations 
 |
Leading
executive coach and business consultant Susan Scott says, our
work, our relationships, and our lives succeed or fail one conversation
at a time. Here she gives readers the principles and tools to
engage colleagues, customers, friends, and family to provoke
learning, tackle tough challenges, and enrich relationships.
Master the courage, skills and - more importantly - enjoy the
benefits of fierce conversations in every aspect of life. Fierce
Conversations is destined to become a new business/personal
development classic. |
Click
here for more Tep Ten books
Back to Contents
A
friend sent me this cute story reminding us how simply children see the world
- a story I think everyone will enjoy!
A
little girl walked to and from school daily. Though the weather that morning
was questionable and clouds were forming, she made her daily trek to the elementary
school. As the afternoon progressed, the winds whipped up, along with thunder
and lightning.
The
mother of the little girl felt concerned that her daughter would be frightened
as she walked home from school and she herself feared that the electrical
storm might harm her child. Following the roar of thunder, lightning, like
a flaming sword, would cut through the sky. Full of concern, the mother quickly
got into her car and drove along the
route to her child's school. As she did so, she saw her little girl walking
along, but at each flash of lightning, the child would stop, look up and smile.
Another and another were to follow quickly and with each, the little girl
would look at the streak of light and smile. When the mother's car drove up
beside the child, she lowered the window and called to her, "What are
you doing? Why do you keep stopping?" The child answered: "I am
trying to look pretty, God keeps taking my picture."
May
God bless you today as you face the storms that come your way and don't forget
to SMILE!
Back to Contents
"A pessimist sees the difficulty in every opportunity; an
optimist sees the opportunity in every difficulty" - Winston Churchill
Please send us your comments or questions to sallyh@bizland.co.za or post them on our
Discussion
Board.
Until
next time...
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