What is a Section 129 notice?
This is issued by creditors in terms of section 129 of the National Credit Act, to inform you that you are in arrears on your credit repayments. The notice will provide options to remedy the default.
It can be sent out to you once you are in arrears of more than 20 working days. Do not ignore it. It is a notification that your creditors could enforce their rights to issue a summons.
Section 129 notices are sent via registered mail and even if you do not collect the letter, if your creditor can prove it has been sent via registered mail and to your address the notice will stand in court.
Contact your creditors to make payment arrangements but do this in writing so that you have a copy of any agreement.
If you need more information contact Meerkat on 021 003 4535