Breach of agreement

In August 2017 I purchased a vehicle and was lucky to be financed by MFC I paid the instalment as agreed to in the contract and at some point I was even paying R1000 extra on my instalment.

On 08th March 2023 I received a notice from MFC to say that I should opt a suitable amount as the term of the vehicle was over and should seek a refinance for the balloon payment of R135 000

Indeed I completed and signed the form and sent it to MFC Balloon payment section via email:***.

In that form, I opted for was R3797.34 over 48 months (see attached) and I went further to explain to MFC that I would have loved to pay an amount closer to the original instalment of R7200 which I had gotten used to but due to the termination of my employment on 06th March 2023 I could not afford. The reason for my SUDDEN JOB LOSS was that I was in a role –playing post and the Minister that I was working for was recalled during the reshuffle.

For several months I did not hear from MFC and I continued to pay R4000 monthly as per the agreement that I had signed.

In October 2023, I started receiving nasty telephone calls from MFC to say that my instalment is R7000 monthly. I am appalled at this and do not understand why they asked me to select an amount that I can afford and later change without informing me as the customer why this is so.

The calls from MFC or the collection agent have continued and they are very keen in asking me to surrender the vehicle to them to be resold, no one is interested in explaining to me why the instalment is R7000.

Why is MFC treating me this harshly and inconsiderate to my current employment status?

I can well afford the R3797.94 as indicated in the re-structuring form that I signed but it does not look like they have any interest in the amount that I indicated to be affordable to me at the moment.

Please kindly assist me from these vultures.

On top of this humiliation, MFC has not bothered to respond to my emails asking them to explain why they insist on me paying them R7000.

I am on my knees please save me!