Zahara’s unpaid debts. Multi award winning singer/ songwriter Zahara is reportedly failing to fulfill her home loan and car loan payments. According a Sunday World article the singer may be on the cusp of losing both those assets.
Zahara has a R1.9 million home loan with Nedbank for her house in the suburb of Little Falls, Johannesburg. She was approved for the home loan in 2012.
According to the report her monthly instalment is about R18,000 and the artist is struggling to keep up with those payments. The total outstanding amount on the home loan account is said to be R1,731,684.62.
Zahara also received a loan of R438,197 to purchase a 2014 Land Rover Evoque SUV.
According to Sunday World article “The term of the agreement was 72 months. The total cost of the agreement including interest, costs and charges would be the amount of R631,932.48 which would be repaid to the plaintiff (Standard Bank) by the defendant (Zahara) by way of an initial deposit of R38,000 and the balance by way of 71 payments of R8,776.84 each at 1 monthly intervals beginning on 1 March 2018 and 1 final payment of R8,776.84 payable on 1 February 2024.”
Also read: Zahara to fight TS Records
It seems like Zahara paid the deposit has failed to keep with the monthly instalments for the vehicle and now is over R33,000 in arrears.
These reports of Zahara being behind with her debts aren’t really anything new and taking into account that last week she made allegations that her former record label TS Records owes her millions. These unpaid debt’s allegations do seem to have some truth to them.
According to Zahara she has left everything to her lawyers to sort the money she claims she is owed by TS Records.