I went to an old mutual branch in ALexandra on the 14 January 2013 to apply for a personal loan to jump start my small business and I was serviced by Surprise. The branch approve a loan of R90 000 the repayment installment was R3 800.00 payable in 48 months.
I told the consultant that I could not afford to repay that installment amount as the business is still in its infancy. The consultant advised me that I could get the installment lowered and months extended if I make 3 consecutive installments on a monthly basis because it was my first time opening a loan with Old mutual. After three months I called the centralized contact centre to do a rescheduling on my installment, I was told that they can't do a rescheduling on my loan because 48 months is their maximum term. So as a client that came as a shock because I have explained my financial situation to your consultant and he gave me incorrect information, so that he can reach his target. I have explained my situation to various consultants and supervisors at old mutual head offices for the past three months and no one has managed to assists me.
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