What is repossession
Repossession is the legal term refering to the process in which a bank will “take back” an asset that was financed. This is usually secured debt like vehicles or houses
If you are in arrears with your bond or vehicle finance the bank may opt for repossession.
They will need the following to obtain a repossession order.
Section 129 Notice
Execution order and attachment order
Notice of Sale in Execution
Once your asset has been sold you will be liable for the outstanding amount (shortfall)
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My car was about to be repossessed and you stop it. Thank you for your fast and friendly service
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What is repossession South Africa
If you are facing repossession or your assets have been sold on auction, please contact us for options available to you.
We are repossessions toppers and we can have the shortfall written off
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