In 2006 i applied for a loan with African Bank the loan value was R10000.00. I made a monthly payment upuntil my retrenchement which i informed them about. At the time of my retrenchment I owed them R6000.00. After being employed on and off oer the last few years i was unable to mee my obligations. I them up recently as i wanted to pay what i owe and to my amazement i suddenly owe them in the region of R22000.00. I need to mention this that this is not inline with the National credit act and secondly this debt has prescribed.
When i called the call centre they out right refused to listen to what i had to say as i wanted to negotiate in terms of getting a settlement discount.
Suddenly out of the blue i get an SMS stating i qualify for a 70% discount which i was happy with but was prepared to pay that on the actuall balance at the time of default and not on R22000.00 which in my opinion is ridiculous.
If i do not get a reponse or an amicable resolution i shall be forced to lodge a complaint with the NCR and the Ombudsman
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