Absa
ABSA Life are

I have 2 personal loans with ABSA and one of there terms were that i must take out insurance with the loans (for retrenchment, disability, death ect.)

Now unfortunately I was retrenched by a family owned company (multimillion rand turnover company) which went into liquidation. Keep in mind I was ONLY an employee and nothing more!!!
For a few months i was trying to get by with the few odd jobs, from which i could at least pay my bills with.
Then December came and with everyone going on holiday, so did my income. So as a last resort I applied at ABSA life for payment of the loan (I think its 6 Months of payments) which would work perfectly as im starting a full time job in March 2014.

Now they are saying they will not pay cause i worked for a family company.

I personally think this is BULLS cause I was just an employee just like any Tom, or Harry and they are just using it as an excuse, while i have been paying FULL premiums on the loan and the insurance that comes with it. ( Cause we all know ABSA isn't the cheapest).

So from today I will not pay anything anymore till ABSA sorts this out.

And if they dont sort it out I think FNB will be a good option

Company: Absa
Country: South Africa
City: ABSA Life

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