THE FACTS
LIZZY Mogale from Randfontein, west of Joburg, borrowed R40 000 from Link Bond in 2006 to renovate her house.
She said law firm Burger & Hlongwane Attorneys sent her documents to sign. In 2007 she contacted the firm to inform them she had been retrenched. She was told it wouldn’t be a problem as the loan hadn’t been approved yet. A year later, Standard Bank deposited R39 230,50 into her bank account. After some time Lizzie discovered only R9 178,47 was left in her bank account and that she had to pay back the loan at R983 per month.
WHAT I DID
I contacted Scorpion Legal Protection.
SOLUTION
The loan that Lizzy applied for was a further bond on her house.
The attorney deducts the registration costs and his fees from the bond amount, with the balance being paid to the client. In Lizzy’s case, it is unlikely the costs would be about R30 000 and the attorney will be contacted to find out exactly how much was paid by the bank, and where the difference in funds is.
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