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Other Contract Bonds - Loan Repayment in South Africa?


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Old 01-04-2008, 05:38 PM
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Join Date: Oct 2007
Posts: 179
Default Loan Repayment in South Africa?

My wife owens her own Hair Salon in Cape Towm S.A. We bought the hair salon
For R115000.000, took a loan from ABSA through her mom, and we were suppose to pay R1500.00 per month
Over 5 years but we were not preperd to pay that, so we paid R5000.00 a month and managed to finish the loan in
One year. When we bought the Hair Salon we could only get R75000.00 so we had to put everything that we had
Saved up into the salon, which affected our personal profile with the banks, so it is very hard for us to get a bond in
South Africa.
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Old 01-04-2008, 08:06 PM
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Join Date: Oct 2007
Posts: 558
Default Other Contract Bonds

Quote:
Originally Posted by Bond Guy
My wife owens her own Hair Salon in Cape Towm S.A. We bought the hair salon
For R115000.000, took a loan from ABSA through her mom, and we were suppose to pay R1500.00 per month
Over 5 years but we were not preperd to pay that, so we paid R5000.00 a month and managed to finish the loan in
One year. When we bought the Hair Salon we could only get R75000.00 so we had to put everything that we had
Saved up into the salon, which affected our personal profile with the banks, so it is very hard for us to get a bond in
South Africa.
Not sure what you are asking here - but regardless, we can't help you with anything in South Africa.
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