Legal Question in Credit and Debt Law in Zimbabwe

Credit related question..

While unemployeed I entered into an agreement with my mortgage company to pay 1/2 payments for 4 months. Now those 1/2 payments are showing on my credit report as 30/60/90/120 days late.

Can the mortgage company do that?


Asked on 10/01/10, 9:22 am

1 Answer from Attorneys

lawman Chimuriwo Lawman Chimuriwo Attorneys At Law

i will answer this question on the presumption that you are in Zimbabwe or an area where Roman Dutch law is applicable.

what you are alleging is that you amended/waived the agreement with the consent of the other party.

this is a plausible cause of action depending on a plethora of variables that i am not privy to at the moment.

Firstly ,it all depends with the provisions in your agreement with your mortgage company and whether the second agreement was put into writing .Most standard mortgage agreements provide that no amendment is valid unless put into writing .if this is the case the only thing that can be done is to produce the written document amending the original terms.

The position of the law is that you are bound to all the terms that you signed to.the company has no obligation to pursue terms that are not canvased in the Agreement

however if your agreement does not canvas the issue of how an amendment should be done,the you can issue summons ,but you will need evidence to prove that you had the verbal agreement was indeed concluded varying the terms of the first agreement.

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Answered on 4/27/11, 11:52 am


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