Some South Africans are having their cars ‘repossessed’ in shopping malls – what you should know

[BusinessTech]

Some South Africans are having their cars ‘repossessed’ in shopping malls – what you should know

The Ombudsman for Banking Services (OBS) has seen an increase in complaints from people alleging that their vehicles were repossessed without them signing a voluntary termination letter or being shown a relevant court order.

 

[Zukat]

How about people just pay for their cars as they agreed to or surrender it, so the banks dont have to take your car away?

 

[Arthur]

How about people just pay for their cars as they agreed to or surrender it, so the banks dont have to take your car away?

Indeed.
By not honouring their agreements freely entered into they raise the cost for the rest of us.

If people run into financial difficulties and can't pay as agreed, they should contact their creditors and resolve the matter amicably.

We all, including banks and credit suppliers, understand that people can get into difficulties, and most are willing to work in good faith to resolve matters.

It's shocking that so many don't have the basic sense and honour to immediately contact their credit provider, explain their difficulties, and work in good faith to arrive at a mutually acceptable solution.

 

[zulucat]

Going to the mall in a Beemer... Coming back in an Uber