Absa
Very dissapointed customer!!!

I lodged a complaint with ABSA vehicle finance to look at my vehicle account and explain to me why my account is not decreasing when payments are made. The vehicle was purchased around 2006 and I paid R2200 p/month until I was on debt review and the installments were recalculated and a lesser amount was paid. I terminated the debt review and started paying ABSA R2500 p/month. I was informed by the ABSA employee that my account was still on debt review almost a year after I terminated and the debt councilor notified ABSA about it. A recalculation was apparently done thereafter without crediting my account with the interest accumulated during the time when ABSA failed to update their system. I called several times after paying the account for 6 months and the total outstanding balance remained the same. When I wanted answers I was told that I am charged a lot of interest that is why the account was not going down. In March 2013 I wrote a formal complaint to ABSA complaint department and followed up about 4 times without success. On the 20th June 2013, when arriving home I found a letter from the collections attorneys sent by ABSA to arrange for payment of the amount in arrears. why?

Company: Absa
Country: South Africa
City: Vehicle Finance

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