Absa
Unfair practice by ABSA

I lost my income and fell behind with my bond repayments. I contacted Absa and applied for restructuring which was approved. I then received lawyers letters and a notice of execution. i contacted the attorneys and while this matter was being addressed the bank denied that the restructuring had been approved despite my sms confirmation from the bank. In the interim I have employment and am paying the bond. Today Friday 13th I received a notice of sale in execution for 01 October which is merely 2 weeks away. My total amount owing is only about 35% of the value of the house and I am requesting extension of the bond or any other amicable solution but it appears that the bank is determined to put a family on the streets rather than help solve an unfortunate situation. I am in a position to pay the bond and can also catch up the arrears given a few months but the attorneys advise that it is too late. Surely its in best interest of all parties to find a solution but this seems not to be the case here. This problem could be resolved with some leniency and consideration from the bank. Unfortunately 2 weeks is very little time to stop the auction. I am desperate for help.

Company: Absa
Country: South Africa
City: Cape Town

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