How can I stop my car from being repossessed?

You have only 10 days, from the date of delivery of the Section 129 letter of demand, to act on the notice. Our advice is to contact us and apply for help.

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We will help protect your valuable asset from repossession.

How to avoid car repossession in South Africa?

  1. Speak to your credit provider – a proactive approach may be the best way to avoid repossession. Try to negotiate an alternative arrangement, such as selling your vehicle yourself or surrendering it.
  2. Settle the outstanding amount – This is the ideal option. However, you may find yourself in this very situation because you can’t afford your payments. If you are able to settle the outstanding amount, do so to avoid repossession.
  3. Reinstate the loan – Ask your credit provider if you can reinstate the loan. This way, your missed payments will be integrated into the settlement value. Keep in mind that you may pay more on interest fees in the long run.
  4. Apply for debt review – If you’re struggling to make ends meet, debt review may be the best solution for you. Debt Review is a legal process introduced by the National Credit Act to prevent consumers from being blacklisted and having to deal with the consequences thereof.

If you apply for debt review and your application is successful, a National Credit Regulator (NCR) registered debt counsellor will assist you with:

  • Restructuring your debt so you only pay one affordable monthly debt repayment
  • Communication with your credit providers
  • Negotiating with credit providers for reduced payments
  • Legal protection against repossession and creditor harassment.

Debt review protects you from losing your valuable assets, such as your car, provided you apply before it’s too late. As soon as you apply for Debt Review at The National Debt Review Center, your creditors are notified that you are under debt review within 5 days. They must, by law, communicate with us and stop all communication with you.

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