Absa
No reprieve

We approached Absa in connection with a reprieve on our bond repayments. We were told that we could get either a 50% - 75% restructure on our bond repayments for either 3 - 6 months. We filled out all the forms stating our income and debt. And forwarded this onto Restructuring department. They then came back to us saying that it was declined. I really don't understand how they can decline this as they would still receive money for the next 3 - 6 months all be it a reduced payment. If my debt is greater than my income how can they decline my application. I have cancelled all policies, medical aids, insurances and am in the throws of selling my car just to make ends meet. Can someone explain to me what I am to do. Does this mean that Absa is not willing to help and that they want my house and my family on the street? I approached them before I had a problem. Now at the end of this month we definitely will have a problem.

Company: Absa
Country: South Africa
City: Randburg

  <     >