After missing his instalments, Kaizer Chiefs legend Reneilwe ‘Yeye’ Letsholonyane might lose his lush R1 million mansion in Fourways, Johannesburg.
STANDARD BANK GOES AFTER LETSHOLONYANE’S R1 MILLION MANSION IN FOURWAYS, JOHANNESBURG
The news has since thrust the former Bafana Bafana midfield maestro into the top trends, with many trying to connect the dots about his woes.
Reports have it that he has an outstanding balance of over R450 000. However, his municipal levies have ballooned to over R730 000.
Rumour has it that the amount owed is now more than the house’s market value, prompting the bank to turn to the courts.
However, the former Kaizer Chiefs star Letsholonyane has not addressed the news that has thrust him into top trends.
According to papers filed at the Johannesburg High Court, Standard Bank has applied for an execution order to recoup the debt.
Unconfirmed reports making the rounds online claim that the former Kaizer Chief legend has failed to table a payment plan to settle his debt.
The bank is reportedly seeking an order authorising the execution against the property.
According to the agreement, Letsholonyane was supposed to pay R72 197 monthly instalments to the bank, but he has not done so.
However, Letsholonyane has failed to keep up with the instalments that have ballooned to thousands.
It has also been reported that the bank has failed to find common ground with the star, who is always unavailable to discuss payment plans to settle the arrears.
Surprisingly, the former Kaizer Chiefs star is reportedly not staying at the lush mansion. Rumour mill has it that he has several properties dotted around the country.
OTHER TROUBLED FOOTBALLERS
However, Reneilwe Letsholonyane joins a host of footballers and celebrities who have been dragged to court for failing to settle their instalments.
Last year, former Orlando Pirates striker Mpho Makola was reportedly drowning in debts.
Against his financial woes, Sunday World reported that he was on the verge of losing his R1.5 million house in Johannesburg after failing to pay back a loan.
The publication has it that he obtained from SB Guarantee Company, a subsidiary of Standard Bank.
Sunday World reported that SB Guarantee Company filed papers at the Johannesburg High Court to seek a default judgment and an order to attach and sell Mpho Makola‘s R1.5 million house in Buccleuch, north of Johannesburg.
Just like Reneilwe Letsholonyane, Andile Jali and former Orlando Pirates star Thabo Qalinge are some of the notable names that have hogged headlines for the wrong reasons.
Earlier this year, it was reported that Thabo Qalinge was set to lose his R4 million mansion after he dribbled homeowners of Eye of Africa of their levies.
WHY DO FOOTBALLERS AND CELEBRITIES STRUGGLE TO SETTLE THEIR LOANS?