After a lengthy battle for arrangements to be made on my loan account with Old Mutual Finance and finally having it done, I was horrified to discover that my credit profile has been severely negatively affected. I was made to believe that upon making arrangements to reduce the amount payable they would increase the loan term thus accommodating for the said arrangement accordingly. With this my payment profile with the ITC would subsequently not reflect more than 150 days. I was falsely made to believe that once arrangements was made to reduce the amount payable and increasing the loan term this would not have a negative impact on my credit report. This is highly unacceptable hence me recommending them to family and friends would be extremely difficult based on my experience with the company. I tried numerous times to contact them to have this corrected but without success as the line are always busy. I am unable to apply for credit as a result.
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