If, on my income I go to the bank and borrow let's say R10 000 000.00 <ten mil>,
three month later I can't make payment, then, I ask for debt restructuring because the bank is as fault for recklessly lending me more than I could ever hope to repay.....
Of het ek Giepie by die stert beet?
I believe that under the credit act the entire loan must be re-structured to be affordable to me....
So..... The stupid government is reclessly lending SAA R10 000 000.00 <ten mil>,
does that mean that down the road, SAA will apply for debt review and WIN ????
Is this where this is going?
Vra maar net...
On another note, A friend of mine has been declaired insolvent, and his credit record reflects that.
The chap was pensioned out of the army, waited so long to get payout, got into debt, the payout was not as per the calculation, he sold some property, put most into the stock market & COVID killed him.
He's now living on the dividends of a small investment he has... The youngster is 70/71/72 Thereabouts....
So I'm there for him. So I mailed him and asked How exactly is this actually affecting him?
he still eats / lives <house paid for> / drives his car, can buy most anything he may need that's too expensive to lay out the cash second hand, things like cars ETC you can still get on HP....
How is it actually affecting him? other than his credit rating, which means nothing to nobody...
AGAIN: - Am I right?
Ek weet ook nie
Warren ek verstaan wat jy se / vra /opserwasie die ding met die groot geld vir SAA maak nie sin nie hulle sal dit ook nooit terug betaal nie hulle kos die staat baie