Former Mamelodi Sundowns and SuperSport united striker set to lose his cars and house after failing to settle his debts.
The former SuperSport United striker is on the brink of losing his house and two vehicles as result of his failure to service three loans he obtained from FNB and Nedbank.
News of the Liberian footie’s financial quagmire came to the fore after the two banks applied for default judgments against him at the Joburg High Court
In the court papers which we have seen, FNB said it granted Laffor a R935 000 loan on July 9 2018 to purchase a Ford Everest 2.2 TDCI XLT 2018 model.
The former Chippa United striker was expected to pay over R11 500 on the 25th of every month for 69 months and over R122 000 final instalment on July 25 2024.
The revered footie was expected to be the owner of the vehicle after paying all the amounts due to the bank.
FNB said Laffor breached the agreement when he failed to make punctual payments and consequently, he was under R90 000 in arrears when it took him to court.
“The defendant is in arrears as at 18 August 2021 in an amount of R88 571.48 with the total outstanding balance amounting to R479 221.53,” read the papers.
The bank said as result of his tardiness, it cancelled the sale agreement and ordered Laffor to surrender the vehicle on April 1 this year but he failed to.
In the court papers which we have seen, Nedbank said it granted Laffor and his partner Anita Tshabalala a R2m loan. They then used their Edenvale property in Gauteng as surety.
The duo agreed to repay the loan in R22 000 monthly instalments for a period of 240 months.
They also agreed that if they breached the agreement, Nedbank would be entitled to claim the total amount owed to be paid immediately.
Laffor and Tshabalala breached the loan agreement when they defaulted on their monthly instalment.
The last instalment they paid was on October 28 2020.
The bank is now asking the court to declare the property, which is worth R2.4m executable and allow it to auction it off to the highest bidder.
“The current estimated value of the mortgaged property is R2.4million, made up of a land valuation of R450 000 and improvements valued at R1.950 000,” read the papers.
The bank said it also sold to Laffor a 2019 Mazda CX5 2.5L for R488 000. He was expected to pay just under R10 000 per month in a period of 72 months with the final instalment being on September 29 2025 but failed to keep up with his monthly instalments.
As result he was over R35000 in arrears a of March last year.
“The first defendant has breached the provisions of the instalment agreement in that no instalments have been paid by the defendant since 31 December 2020,” read the papers.
The bank also said it gave Laffor R100 000 overdraft facility and was supposed to pay R3000 in monthly reductions.
Laffor breached the agreement when he failed to repay the overdraft facility. The last payment he remitted was on December 8 in 2020.
Laffar said he had entered into a payment agreement with the banks and was surprised when they took him to court.
He said he had briefed his legal team to deal with the cases.
“It’s small amount my brother I can afford to pay them. The problem is the car you are taking about was involved in accident when my wife was driving it.”
“I don’t know what happened after that, but I will pay the balance,” he said.