I had a loan with Capitec bank to start my business, and when business became slow, I had my loan readjusted. after months of paying the readjusted amount, I was handed over to an attorney. I was told what the outstanding was and that it would be added to my current amount, which I would be able to pay off. I have been paying the loan at the agreed amount for the past 5 years, and the loan just doesn't seem to end. Even though the loan was readjusted, Capitec keeps on adding on more and more interest and now claims that my payments did not affect the loan balance even when I was given he option to readjust the loan amount over a more extended period. the balance of my loan is almost double what it initially was, and no one can tell me what is going on. if the amount OI was repaying was readjusted and taken over a longer term then I should have been half way with the loan by now, but the loan just never seems to end.
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