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South Africans should understand their rights as car repossessions are on the rise

VAAL TRIANGLE - The Ombud for Banking Services is emphasising the importance of South Africans understanding their rights when it comes to car repossessions as it’s on the rise, due to the current economic climate. Ombud, Reana Steyn, has highlighted the growing struggle of consumers unable to make ends meet due to the high cost of living. Steyn is encouraging consumers who are unable to meet their repayment obligations to consider returning the vehicle to the bank, or renegotiating their credit agreement with the bank to avoid legal action.

PHOTO: (Supplied)

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