A top bank is going after Busisiwe Nolubabalo Nqwiliso for  car finance she took in December 2016 but failed to keep up with the payments. She entered into an installment sale agreement to the tune of R766 958,40 with the bank for a 2016 VW Amarok.

MISSING INSTALMENTS

In court papers seen by Zimoja, Nqwiliso was supposed to pay installments of 10 651, 25 over a period of 70 months but Nqwiliso failed to keep up with her monthly payments to the  bank. She defaulted with her payment obligations and was therefore in breach of the agreement. On 12 July 2018, the bank ordered Nqwiliso to return the vehicle but by October 2018 she still had not returned the vehicle.

CAR FOUND AT MECHANIC

In November of the same year the vehicle was found at a motor mechanic who claimed that Nqwiliso owed him R70 000 for repairs. The mechanic said he kept the vehicle as security for the unpaid work he did. The vehicle was then taken in for evaluation and the value had dropped to R155 000, it was sold at an auction for R218 500. However this amount was not enough to settle Nqwiliso's debt with the bank. Following various attempts to reach Nqwiliso to pay the outstanding balance of R322 203,72, were not fruitful as she appears to have failed, refused or neglected to make payment.

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