Old Mutual
Ripped off when settling consolidation loan

I have a consolidation loan from Old Mutual which I'm planning to settle this month. I received a settlement letter which expired on 13/07 where the balance was indicated at approx R63500. I was unable to pay it time so this week I went back to confirm that I can still pay the same amount and whether the reference number had changed. The consultant told me that there a cash payout of R1300 that needs to be paid to me. I specifically asked if receiving this would increase the settlement balance and was told no. After the payout my new settlement balance is now R65850.53 and a breakdown cannot be given to me of why. I want an explanation of how this amount skyrocketed this way.

Company: Old Mutual
Country: South Africa
City: Cape Town

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