Old Mutual
SETTLEMENT AMOUNT

Hello Peter

On the 14 January 2010 I've took a personal loan of R40 000 at Old Mutual in Adderly street Cape town application appoved, then the total Principal debt was R41 140.00 the interest rate is 25.75% per annum.

On the 15 Jan 2012 I requested an settlement amount, the quotation was indicate R8 759.38 due to operational matters I didn't pay the amount I've only pay R5 500 on the 16 Jan'2013.

On the 17 Jan I phone Old Mutual request the statement now on the statement my balance wa R2 875.10 this month they debited R814.99 I went to Old Mutual in Adderly Street for the settlement balance so that I can settle this account today 15 Feb. The settlement balance now it is R2 744.31 when I ask the consultant Nokuthula Guzu she said to me "i don't know why" because this amount is close to the balance.

I phone head office of Old Mutual they say old mutual is charging the the interest that I did'n pay when they give me a loan. In my understanding old mutual is over charging me now. According to my calculations R2 875.10 - R814.99 = R2 060.11.

I request further investigation in this matter.

Thanks in advance

Company: Old Mutual
Country: South Africa
City: CAPE TOWN

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