# Regulatory Compliance Category > National Credit Act Forum >  Stannic finance debacle

## smithers

Hi all,

I need some clarification on an issue. I financed a vehicle, moved to another city, registered the vehicle under new region, found out vehicle had a different engine than what I purchased and was charged registration for. Battle with bank ensues ( not their issue it turns out). Dealer said take me to court, didnt have the monies, sold car and now have the balance left to settle with Stannic. 8 Months later I am still awaiting the new paperwork/contract, nothing has transpired from Stannic.

In between all of this I became unemployed and have been unemployed for over a 1.5 years. I will be starting a new position, much lower income than previous earnings. Having done a budget on my new salary, I am left with R1000 - R1200 maybe to pay all my creditors.

Now insolvency is not an option as I have no assets, liquidation is not an option as I have no assets. If I had the money I would settle the creditors. Debt calls keep coming, I pay what I can when I can, but borrowing from crazy to pay stupid is well just plain idiotic.

I am at the point that paying any more on my debt will not allow me to even put fuel in the car to get to the job that will allow me to pay the debts( sucks I let this happen).

Legally if anyone has a an idea or recommendation, all input is welcome, no matter how bizarre.

Apparently there is also a debt from 2004, yet I was out of the country, I have asked for the paperwork of this debt from the collector, who is not really assisting. Although I must send them proof of address in the UK and my ID and affidavit. The ID number is mine, yet i never registered this business or ever have owned a business in South Africa. I am loath to do this until they have shown me or can prove it was my details r is my details on file? Am I creating more issue here r should I just comply to their wants?

Thanks all

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## AndyD

Hi Smithers, welcome to the forum.

I don't have any suggestions on the car issue but with the debt supposedly from 2004 you can claim prescription assuming you haven't since acknowledged the debt. I suggest you read these two threads for more info.

http://www.theforumsa.co.za/forums/s...ong-to-collect

http://www.theforumsa.co.za/forums/s...a-special-plea

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## smithers

Hi Andy,

Thanks for that i will read up. I am however convinced the collector will still insist on payment even if they have no documented proof of me signing, surely there should be a document or paperwork to support their case. I am still loath to give them any faxes of anything with my name on it.

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## AndyD

You can't claim a debt against someone without appropriate documentation unless it was a verbal contract. Even then they would probably need witnesses or or at least some circumstantial evidence of acontract if a push came to a shove in court and it was your word against theirs.

I wouldn't enter into any corresopndence with the debt collecting agency without at least them supplying an original contract copy and invoice. If they fail to do so and carry on pestering or threatening behaviour plus given you can prove you were out of the country at the time ofthe debt was supposedly incurred, I personally would be tempted to open a police docket against them for harassment. Whatever you do don't say anything in writing or verbally that could be construed as acknowledging the debt, don't sign anything and don't pay them even one cent no matter what it's supposed to be for. Be warned that debt collecting agencies will try every trick in the book to get you to acknowledge the debt. The onus is on them to prove the debt, not on you to prove otherwise. 

To be honest I smell a rat if what you say is true. If there was a long outstanding debt any company would have already been to court and got a judgement against you and the sheriff of the court would be attaching your assets. Did you check to see if a judgment was already given on this case even in your absence? If it was I might be tempted to seek legal advice to get it overturned.

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## smithers

hi andy,

there is an invoice they sent with my name trading as a business, never owned a business, they insist i must prove i never registered or owned a business, and provide proof of address in the UK where i lived. I am not going to do anything, if they call i am not going to entertain anything further, other than state they must prove it is my account, i will not give them any paperwork of my personal UK tax proof of address as that is all i have. It is just so concerning that in this day and age of document backups and data backup they cannot find this paperwork

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## smithers

further it is not a substantial amoutn, its less than 5K

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## dfsa

> hi andy,
> 
> there is an invoice they sent with my name trading as a business, never owned a business, they insist i must prove i never registered or owned a business, and provide proof of address in the UK where i lived. I am not going to do anything, if they call i am not going to entertain anything further, other than state they must prove it is my account, i will not give them any paperwork of my personal UK tax proof of address as that is all i have. It is just so concerning that in this day and age of document backups and data backup they cannot find this paperwork



Tell them they must produce to you the order No: for the goods. At the same time they must show you the delivery note and who signed for it, then they must also give you proof of the delivery address.

Don't give them any personal information: Your address, phone No: or any other personal info. Your info here or in the UK has nothing to do with them, nor their claim.

It is up to them to proof you owe the money. It is up to them to proof you owned a business. It is up to them to prove you placed an order on them and your payment agreement. It is up to them to prove where they delivered the goods and who signed for it.

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## adrianh

> I pay what I can when I can, but borrowing from crazy to pay stupid is well just plain idiotic.


Beautifully put...


What kinda money do you owe and what do you earn?

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## smithers

at this time, i am on a commission only basis, finding work has been a trying time. If permanent work is offered it would only be in the region 8-10K per month before taxes. But comm is possible (everything comes with hard work!!)

Money owed is close to the 90k mark.

car, overdraft and credit card. creditors arent interested, and i am amazed that they expect a person to loan money to pay them and incure further debt, just not good business practice, they just want their money. 

I wonder when they say calls are recorded, if one could actually get these calls, and review them, are we not entitled to get them. I would think so if it ever went to court.

I am not providing any information to any parties of UK related status, they can go to court and get an order for that.

Anyhow life goes on, and we must prevail as much as we are able to in these times.

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## smithers

update to the Stannic debacle :

i sold the vehicle in December 2011, paid the bank what i got for the vehicle. I then requested as per Stannic requirements a new contract of the balance owed over a new finance term outlining interest rates etc. Stannic never obliged with the documents up to this day the 27/1/2014.

It turns out the following had transpired :

Since January 2012 the bank had been deducting the monthly premium off the money paid into the settlement account. At the same time the bank had handed me over to a debt collector who contacted me 10 months after the demand letter had expired in 2012, which is a suspicious document that on closer inspection seems to be doctored and amended to suit the banks position. Having spoken to the debt collector and requested the paper work again, i confirmed the correct details and contact info, he said he would provide the paperwork. Still nothing has been delivered or contact with me since 2013.

I spoke to my attorney who had advised that I leave this until prescription act applies. Honestly I had tried to get the account resolved, tried to make payments, tried to get information and here I am. My credit profile lists Stannic contract as in dispute, yet Standard Bank never picked up phone to call me, no emails, no letters in the postbox and never a statement either. 

What would be your thoughts and views people if this happened to you?

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## Dave A

> Since January 2012 the bank had been deducting the monthly premium off the money paid into the settlement account


I don't like the look of that. It hasn't been applied immediately against the capital?

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## smithers

> I don't like the look of that. It hasn't been applied immediately against the capital?


a statement i received in January 2012 shows money received, leaving a balance owed on the account. The amount paid was reduced monthly as per the monthly premium of the agreement.

every month there was the monthly premium taken off the money paid in from the sale of the vehicle. 

I cant show any statements as i never received any from Stannic.  :Banghead:  :Banghead:  :Banghead:  :Mad:  :Mad:

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## smithers

Quick update on this debacle.

I received a text message from Stannic in 2014 telling me they have been trying to reach me at my old address in JHB. I have been living in Cape Town since 2011, weird. Further i requested the documents again for the new payment plan for the balance owed on the account, also requested the recalculation to provide me with settlement amount. 4 Months later i still have no information or updates. My attorney says don't even bother anymore as in 8 months this debt will Prescribe. I know i owe the debt, but to pay for a monthly amount for a R's value that is not reflecting the actual amount i should be paying (including all interest over the balance of the contract) this is not even being amended but the term remains the same, this is just bizarre.

I have never received a human phone call, Stannic only phone from an auto telephone number with a recording.

How does one get Stannic to implement the changes, send me the documents with a new payment plan? Surely they know they longer they take to resolve this, the less they would get?

Anyhow, job offer is waiting for me overseas, maybe i should just depart and forget and not look back. My pushing to get this resolved costs me money and does not seem to bring me any closer to a resolution.

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