In 2009 my wife took out a personal loan with Direct Axis and at the same time she took insurance cover so that if she was retrenched etc the loan would be settled. My wife was retrenched in 2010 and she applied for the loan to be settled as we understood that there was this policy in place to cover it. Well that was not the case, they only paid 6 months. I do believe that this is misrepresentation and that the loan should have been settled in full as we were led to believe. We even placed my wife under debt review but had to cancel that because we couldn't afford it. My wife still hasn't found any fixed employment and we are battling to make ends meat at the moment. That clearly doesn't bother Direct Axis because they have blacklisted my wife for this debt that should have been settled by their insurance department. Please could someone from the insurance dept of Direct Axis contact me I would like to sort this out asap.
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