I bought my car in 2009 nwith motor finance corporation, a few months ago they notified me about migtrating to nedbank.on 2013/05/01 i received my statement as usual.my balance reflected an amount of R38, 972.51.ballance accrued interest was R39, 166.84.yesterday i received another satetement dated 2013/06/18, my new balance is now R43000 point something. i have been charged R235.95 referred to as 'migrated to NB', I am also charged an amount of R4, 146.55 REFERRED to as INITIAL FINANCE CHARGES.my question is how many initiation fees will i be charged for the period of this loan, if they choose to migrate again, will i still pay for migration fee... why do i have to incur charges that are not effected by me. Is this fair business practice.the way motor finance corporation does business leaves so much to be desired.attempts to call them on the provided customer service number at 0860 879 900 were in vein.can i get somebody to explain all this because it doesnt make any sense to me.
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