I would like to know what Std Banks collection policies are with particular reference to my RCP LOAN ACT. 270435360. The normal instalment on this account was R369pm and I have been paying R300pm for the last 4 years on this account, which is only R69 less than the actual monthly instalment, yet the balance is R11000 - according to STD BANK. After paying R14400.00 over the 4 years, on a Principal Debt of R15 500, there is still this huge balance. To make it worse, after regular payments of R300pm on this account, they hand me over to RL DALY attorneys.
1stly, is it Std banks norm to hand over people that make regular payments as arranged to attorneys?
2ndly, Why is the balance still so ridiculously high after 4 years payments of just R69 less pm on the Regular instalment?
Nobody ever gets back to you and everybody passes the buck. I have made phone calls to your callcentres in the region of R1800 already and have gotten nowhere. i have sent countless emails to all and sundry, nothing.