Russells
Loans and credit to Pensione

On the 21 May 2012 Russels in Phoenix entered into a credit agreement and a loan agreement with a pensioner in terms of the which the pensioner indebted herself in the sum of R 831.20. The credit agreement was for household furniture amounting to R 7 359, 82 and the loan amount R 4000.

One requirement of the National Credit Act is for clients to pass an affordability test, and to prove that they will be able to repay the loan / account. I'm quite certain that you are aware of same. From the above it is further quite evident that the above customer, being a pensioner, was at the time of entering into the said agreement and is at present, unable to pass the affordability test, as required.

There is also a black male who entered the above pensioners premises on 2 occasions claiming that he is acting on Russels and upon a debt collectors instructions. He advised that the debt collectors he is employed by receives a commission of 25 %. He further claimed payment from the pensioner.

Please be advised that you have extending unaffordable loans/credit to a pensioner, who will be seeking further legal relief. Please stop harassing this pensioner and follow the correct legal procedu

Company: Russells
Country: South Africa
City: Phoenix Plaza

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