Greetings Attorney, I own Fnb and Absa p...

Asked by Veronicah on 08-12-2023 00:50:14
Question posted in the General Law category relating to Limpopo

Greetings Attorney, I own Fnb and Absa personal loan of R150,000 to settle both. But I can't able to pay anymore because I'm not working and my business has failed. When I got the loan. I bought a car with some of the money. But now I want to change my car in my son's name to save the car from being taken for my personal loan to pay off the depth. Can the bank still take the car if it's in my son's name? When I go in default. Another question is. What if I know I can start paying the loan after a year? Can the bank consider that and give me a 1year break? Thank you as awaiting for your reply. 

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