My Volvo that was financed through MFC (with the top up policy included in the monthly payment amount that was taken from my account without fail since I bought the car) was written off on 21/09/2012.
MFC continued to take payments as the insurance had not settled the outstanding amount.
I let this go as I knew that Dial Direct had not paid MFC at that stage even though I felt that this was wrong since I no longer had use of the car I was still paying for.
In December 2012 after Dial direct had paid MFC, MFC took the payment once again! I went into Centurion branch and reversed the payment only to find in January 2013 that payment had ONCE AGAIN been taken from my account.
On trying to reverse the payment on Friday 04/01/2012 at the Montana branch I was told that it could not be reversed. I eventually found out that the top up policy I was sold by MFC was in fact not underwritten by MFC but rather by a third party Regent. Upon phoning Regent I was informed that the policy had expired because MFC did not make these payments to Regent although it was taken from my account. I am still waiting and can hear that they are already making plans to get out of it.
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