Mulomowandau Mathoho to have his car repossessed-Image Source@X
Mulomowandau Mathoho, ex-defender for Kaizer Chiefs, is reportedly under legal pressure from Standard Bank, which has initiated steps to repossess his car, a Volkswagen Polo sedan. The bank’s move follows Mathoho’s alleged failure to meet the financial commitments on a vehicle loan issued in early 2019.
According to information released by Sunday World, Mathoho acquired the VW Polo sedan through a loan facilitated by Standard Bank in February 2019. The loan agreement stipulated a borrowing amount of more than R250,000, with the total repayment cost—including interest, fees, and charges—rising to approximately R380,000.Under the terms of the agreement, Mathoho was required to pay over R5,000 monthly, with the loan scheduled for full repayment by March 1 of the upcoming year. However, despite the bank’s repeated notifications, Mathoho reportedly failed to comply with these payment obligations.
Mulomowandau Mathoho to have his car repossessed-Image Source@X
Standard Bank alleges that Mathoho’s continued possession of the vehicle is unlawful due to his inability to honour the agreed-upon payments. The bank has sought a court order to officially recognize this breach and to mandate the return of the vehicle to its custody.
In addition to reclaiming the car, the bank is pursuing a settlement of outstanding payments, accumulated interest, and associated legal costs as part of the repossession process. The player has since left his job as a Kaizer Chiefs player. rumours have it that he is facing financial challenges, thus the difficulty in paying back his loan payments.
The ongoing dispute underscores the financial and legal challenges that can arise when contractual obligations are unmet. As Standard Bank seeks to resolve the matter through the courts, Mathoho’s case highlights the importance of managing loan agreements to avoid repossession and additional financial liabilities.
