Vehicle Finance

Dear ABSA finance legal department

I bought a car in 2015 and have been under debt review since 2017. My husband was ill in 2016 that really put a huge financial strain on our hosehold where I had to be in and out of hosiptal every day for almost two months and during these months, I have failed to make payments on the vehicle. I have recently lagged behind on three payments due to personal financial reasons. ABSA cancelled the debt review. Since the debt review was cancellled I have continued to pay the normal vehicle installment and was informed that I am in arrears with R40000 which must be paid within six months. A friend was going to help me with the repayment, but found herself in difficulty and could not help me anymore.

I have asked for an extended term perhaps, but I am really in no poisition to borrow anymore money to make up for the arears amount. With this in mind, my husband has just received a promotion a month ago and now that things are starting to look better, I received a call two days ago from a Mr Marias, ********** informing me that he was instructed by ABSA to collect my vehicle by Friday, which is within three days. The letter I received from ABSA was my statement for the month of May which shows the arrears amount, but no official notification that they will be collecting the car from me were ever sent to me. I have spoken to three different clerks in the legal department and they were not up for negotiation.

I do not want to loose the vehicle, and want to work out a suitable payment plan or alternatively, I would like to request that the payment term be extended.