I took out a personal loan with Capitec bank some time in 2007/2008 and in 2010 I got retrenched from work WG Wearne and I was given a retrenchement letter so I Immediately took it to my closet Capitec branch which was? Randfontein and inform them that I could no longer pay the loan as I was unemployed and enquire about the protection insurance that I was told about when I took the loan. The lady at the bank informed me that they will have to fax the forms to their head office and makes them aware and assured me that the insurance would pay off the loan as I hve the necesary documentation proving that I was retrenched, she made copies and sent it to their head office. I got a call from them after - 2 weeks and I was informed that the loan had been settled and the settlement letter would be sent to me as I requested it which I'm still waiting for. My wife and I applied for a home loan which got declined as Capitec has a judgement against my name, I mean is this fair I had insurance on the loan and now my name has been put on itc and I can't buy my family a house, I feel expolited and I'm so angry why pay insurance every month on a loan and get to when you take out a loan??
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