Unpacking a mysterious balloon payment case

702's Relebogile Mabotja speaks to consumer journalist Wendy Knowler.

Listen below:

Wendy Knowler reports back on the case of a listener who called in to the show a few weeks ago to say he had received a demand to pay R100,000 as a balloon payment - despite the fact that he had never signed a balloon agreement.

"There is a backstory here... I've seen the contract and it doesn't have anything about a balloon - and I asked was there maybe a second contract that overrode the first one, and I was told no."

- Wendy Knowler, Consumer Journalist

After some more digging, the full story was revealed.

The customer requested a restructuring of the payment plan about a year into the contract - but even though the monthly amount was adjusted, he never received an updated contract.

"Someone slipped up on the bank's side... so it's finished, they wrote it off!"

- Wendy Knowler, Consumer Journalist

"He got lucky, because someone went ahead with this deal without making sure that the new contract was sent to him and signed and all sealed and done..."

- Wendy Knowler, Consumer Journalist

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Scroll up to the audio player to listen to the discussion.