Satinsky scam victim in third court battle
A victim of the R699/Satinsky vehicle financing scam, who contends that she was granted credit recklessly by Nedbank's vehicle financing division MFC, appeared in the High Court in Pretoria this week to fight off the lender for the third time in two years. The consumer, who is a financial adviser for a big life assurer and does not want to be named, lodged a complaint of reckless lending against MFC in 2014, not long after the R699/Satinsky scheme collapsed. However, the National Credit Regulator only accepted her complaint as official in November 2015. The regulator has told her that it referred a case against MFC relating to the Satinsky scheme loans to the National Consumer Tribunal in September 2015, but her case was not included in the regulator's pleadings. Since early 2015, MFC has tried twice to take summary judgment against the consumer for the outstanding debt. Both cases were dismissed. Although the court orders do not state why the cases were dismissed, the consumer says...
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