Fuliza Friday

Swala Nyeti Podcast
Fuliza Friday
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Today we discuss questions related to personal finance, which will be answered by Mathew Muinde, a Commercial Lawyer specialising in Personal Finance.

Question 1

I was listed on CRB by a Microfinance. On enquiry I found out it was a loan taken out on a fraudulently acquired number, my line was used to acquire a loan without my consent. Therefore, can I sue the Microfinance and telephone company for this?

Question 2

I took a loan from a mobile digital lender. It wasn’t much but the deadline for paying the loan has passed by two days and although I have promised to clear the balance in a week, the mobile money app has sent messages threatening to contact all the people in my phone contact list. Can they do this? Is it even legal?

Question 3

I guaranteed a friend who took a loan from the SACCO and he recently passed away. The SACCO is now asking me to pay the loan. Can they?

Question 4

My husband’s accumulated debts from everywhere and auctioneers are even threatening to come to my house and even sell the furniture and things that I bought with my own money. Can they do that?

Question 5

I need some breathing space to be able to pay my debts. If I declare bankruptcy, what are the implications?

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