Absa
Outstanding balance on Vehicle is impossibly high

Does not seem like I will ever get any joy out of ABSA. I bought a Opel Corsa Lite in 2008, financed through ABSA. In 2010 I had no other option than to go under debt review. In Dec 2011 ABSA decided to ignore the court order and repossessed my vehicle. Could not sort anything out with them so I filled a report on Hellopeter. After 8 months ABSA decided to reinstate my debt review and I got my car back. End of August 2013 they terminated my debt review again, I filled a report on hellopeter and ABSA could not find the documents I gave them last time when they reinstated my debt review, send it to them again and they reinstated my DR luckily without taking my car again. I asked for the outstanding balance on the car and got the surprize... R314K! I called their call center for a detailed statement and they promised to mail it to me 3 weeks ago... Still nothing. Had a look at a previous statement they mailed me after a hellopeter report and saw that in June 2012 ABSA charged R224K interest on this account... So now I sit with a car that I bought for R94K that is currently worth R50K and after 5 years i still owe R314K? Looks like I will never have joy with ABSA.

Company: Absa
Country: South Africa
City: Vehicle and asset Finance

  <     >