I have a loan with capitec went into the branch to ask if they can extend the loan period to make the installment a bit lower they didnt ask me why i want to do this and just said it could be done they just have to phone head office done that and they extended the the loan period wit 12 months but what they didnt inform me is by restructuring the loan term affects ur credit rating and they list it on the credit bearu and u wont be able to get any credit from any provider for 6 months! i did phone head office and exlpained to them that i wasnt informed about the effect it will have on my credit rating they just said i acepted the T's and C's and they can do nothing for me all thou the consultand at the bank and on the phone never said it will be the case worst part is on their system it states " arrears on account restructured " but my loan account was never in arrears!!! shame on u CAPITEC BANK!!!
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