African Bank
Credit Bureau Listing/High Interest - no co-operat

I have loans with African Bank where they have agreed on me paying a reduced amount due to me not being able to afford to pay the loans that i took. I have been paying this religously for some time when I realised that my amount due is just not going down at all. In fact the interest acrued each month is much more than my installment.
I contacted African Bank and tried to consolodate my 3 loans into 1 and have the interest reduced so that it becomes affordable but I was told that I would have to bring my accounts up to date before asking for consolidation so that doesnt help as my loans amount to about 70k which i cannot afford. I am trying to pay the monies that I borrowed from the Bank but i also need some co-operation from the Bank. I do not recall an affordability assessment being done which could be a case of Reckless lending and since I am not getting co-operation I would like to know from African Bank if they actualy owned this money that they loaned to me, if not do i even owe this money? Also are you able to tell me if my Loan was securitized? If so then It will mean that the money i borrowed was insured so are you getting paid twice for the same loan?

Company: African Bank
Country: South Africa
City: Durban

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