I had a loan at Direct Axis and with it I had a policy covering the loan amount in cases of retrenchment, etc. I was retrenched in October 2012 and I sent my retrenchment letter to Direct Axis to get the loan paid up. Nobody contacted me since regarding the loan. When I applied for a loan at one of the leading banks in South Africa they informed me that Direct Axis put me on the blacklist because there was still money outstanding on the loan. Now I have a bad credit record due to the incompetence of people working at Direct Axis. Why did I pay for a policy to cover the loan in unforeseen circumstances if they still put you on a blacklist, never contacts you and you are under the impression everything is fine on their side.
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