Citing the Right Credit Provider In Court Documents
Getting the Name Right in The Court Docs
When preparing documents for court accuracy is key. A small mistake can invalidate an entire application. In particular, is it important to reference the correct credit provider in court documents about a consumer’s debts.
This is made all the more tricky when credit providers themselves have different legal entities which handle different accounts.
When In Doubt Check The CoB
By way of an example, you might have a debt relating to Century Capital which is known to many in the industry simply as Capfin or Capfin SA (Capfin is actually a division of Century Capital Pty Ltd) When citing them in the court papers it is the best course for the Debt Counsellor to double check what is shown on the Certificate of Balance (CoB) that they have received from the credit provider rather than just use the name they most commonly use around the office for the credit provider.
For example, the CoB in this particular case might specifically say: ‘Capfin SA (Pty) Ltd’ and not Century Capital, then this name as shown on the CoB is what should be used in the court papers to avoid any delays or time consuming postponements.
This becomes all the more important to check when dealing with debt that is being handled by a third party, on behalf of a credit provider, such as Consumer Friend or a collections attorney. Since some large credit providers may have sold or handed their debtors book to more than one service provider, caution is needed to ensure that the correct information reflects throughout the entire legal document.
It would not be wise to cite the right names at the start of the legal documents but have the wrong name reflecting in repayment plans etc later in the document. A few moments spent checking through the entire document can save a lot of inconvenience later.