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SATISFIED: Geqezile Ntombela stands next to her Toyota Siyaya.

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This follows the Sowetan's article in which we highlighted the plight of an illiterate and widowed woman who Shiraz Motors allegedly defrauded.

Geqezile Ntombela was refunded her R30,000 last Thursday, hours after the publication of the story.

Shiras Badat of Shiraz Motors apologised profusely for any inconvenience they might have caused Ntombela. He also offered to pay 21 months interest which had accrued to Ntombela's money while in Shiraz Motors' account. Over and above this, Badat agreed to pay the travelling costs Ntombela incurred going to and from their dealership trying to recover her money.

After receiving her cheque, a grateful Ntombela said: "I have refused to take the interest they offered because I wanted to get the correct amount and a go ahead from you (Consumer Line) first."

Ntombela's headache began in June 2010 when she went to Shiraz Motors to buy a minibus. This was after her taxi-owner husband died and she had to take over the business.

Ntombela and her son raised R45,000 for a deposit on a Siyaya (Toyota) minibus worth R215,000.

She said Badat told her to raise another R10,000 before she could take delivery of the vehicle, and told her to get a loan from a taxi association to avoid penalties because "she could not cancel the contract as it was legally binding".

The loan was approved and was payable with R3,000 interest over six months, Ntombela said.

She got her minibus but a month later Ntombela got a shock when she discovered that she owed SA Taxi Securitisation R347,127. They were also demanding an instalment of R8,000.

With the help of her daughter, Ntombela discovered that Shiraz Motors had paid only R25,000 to SA Taxi Securitisation.

Her copy of the contract had inaccurate information - the documents had a lesser amount than the one supplied to the financier, she said.

Koketso Tlou, an inspector at the offices or the National Credit Regulator said they will be investigating Ntombela's account.

He said the fact that Shiraz Motors had refunded Ntombela her money, with interest, does not stop the National Credit Regulator from investigating the alleged unfair business practice. He said their office had a duty to investigate such matters.

WHAT CONSUMERS NEED TO KNOW ABOUT THE NCA:

The National Credit Act specifies a list of fees, charges and interest to which the credit provider is entitled.

The fees chargeable: In terms of section 101 of the act, a credit agreement must not require payment of any money or other consideration except for:

* The principal debt, plus the value of an item.

* An initiation fee, chargeable in respect of the initiation of the agreement and may not exceed the prescribed amount relative to the principal debt.

* A service fee, chargeable, may not exceed the prescribed amount relative to the principal debt, and such fees in the case of the credit facility are payable monthly or annually on a transaction basis or on a combination of periodic and transaction basis and in any other case, such fees may be payable monthly or annually.

* Interest chargeable, cost of any credit insurance, default administration charges are chargeable only when the consumer has defaulted on a payment obligation.

This amount should not be in excess of the prescribed maximum amount.

* Collection fees are chargeable when the credit provider has to use debt enforcement proceedings to compel the consumer to pay.

Comments

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Fri May 24 17:50:18 SAST 2013 ::

Mar 14, 2012

dimpho_4U

National Credit Regulator please name and shame these sc@mbags!!
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Mar 14, 2012

rasefatee

Shiras Motors mahodu she might not be the first or the last victim please investigate further
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Mar 14, 2012

Phunyukabemphethe

You Sowetan you deserve a Bell, Thank you for helping my aunty
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Mar 14, 2012

Catswhiskers

Wonder how many other people they have conned out of their money?
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Mar 14, 2012

SKIZOBANTWANA

Shiras apologises !!! my voet maan.. b-loody C rooks
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Mar 14, 2012

zaco

eish_ @ least Gogzin u will be fine now
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Mar 14, 2012

zaco

WOW......GUYS!! ITS SOMEBODY SPECIAL'S BIRTHDAY
Lets sing together:

happy birthday to you,happy birthday to you,happy birthday to you,happy birthday to you,
o gole gole, o gole gole, o gole gole, o gole gole,
o gole *****,o gole *****,o gole *****,o gole *****,

hip-hip.....hoooooree,hip-hip.....hoooooree,hip-hip.....hoooooree,hip-hip.....hoooooree,hip-hip.....hoooooree,hip-hip.....hoooooree,hip-hip.....hoooooree,hip-hip.....hoooooree,


how old are u now, how young are you now, how old are u now, how young are you now


somebody sing along...........please!!

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Mar 14, 2012

Mrazane

When you are required to pay a deposit for your car check your agreement very carefully I once paid a deposit for a car that was on sale for R55 000 I paid R6 000 deposit guess what my loan documents stated my loan was for R55 000 and not R49 000! Ngavuka inja ebomvu!!!!!!!! So guys check carefully don't carried away with the excitement of getting the car and just signing, take your time peruse the document before signing it is your right to read it overnight if you wish. Let us be wise.
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Mar 14, 2012

iPhone4

Mrazane R55000-R6000 gives you what? R49000? Should i turn my calculator upside down? And you didn't pay for any initiation fee as well? What bank is that ? Spread the word so we all go there when we need money.
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Mar 15, 2012

GJK

iphone4 rephrase your q bcos im lost
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