Former Kaizer Chiefs and now-defunct Bloemfontein Celtic defender Eric Mathoho set to lose his car.
Ever since parting ways with Chiefs back in 2023 after spending 11 years at the club, Mathoho has seemingly fell on hard times financially.
Last year, the defender faced two financial battles between Standard Bank fighting over one of his houses in Gauteng and his VW Polo car.
After nearly six months of the matter of the latter toning down, the lanky defender is set to lose his car according to the warrant for delivery of goods issued against him.
“You are hereby directed to attach, take into execution, and deliver to the plaintiff a certain: 2019 Volkswagen Polo Sedan GP 1.4 CL from the defendant at [address withheld], that the asset may be handed over to a duly authorised representative of the plaintiff and/or the sheriff of the high court, that the sheriff or duly authorised representative should be authorised to attach the asset wherever it may be found and place the plaintiff in possession thereof for which this shall be your warrant,” the warrant stated.
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Mathoho took a loan of R250 000-plus from Standard Bank back in February 2019 to buy the car and was supposed to pay the bank around R380 000 with interest included, which he will pay back by paying around R5000 per month with the final payment set for thus month.
During that time, the bank was going to be the owner of the car until the South African international repays back the loan.
However, the clubless defender failed to pay the instalments as per agreement, prompting the bank to take the action it is taking.
The bank also sent Mathoho a letter back in September last year to let him know that he is behind on his payments.
Which the player didn’t respond to and such, the bank decided to take the route it has taken to recover the money Mathoho owes the bank.
“The defendant is in default of his obligations under the agreement and has been in default for a period of at least 20 business days since the date on which the default commenced,” the court papers read.
“As of September 16, 2024, the arrears amount owing by the defendant to the plaintiff under the agreement was R49 626.
“The defendant was required to remedy his breach of the agreement by making payment of the arrears and all overdue amounts under the agreement to the plaintiff.
“As the plaintiff has lawfully cancelled the agreement, the defendant is now in unlawful possession of the goods.
““And in terms of the agreement, the plaintiff is entitled to return of the goods upon cancellation of the agreement.”