African Bank
Lack of communication and transparency of loan/cc

21st March 2012 I took a loan & credit card through African Bank. The initial loan amount was R20 000 and the credit card was R9500. Shortly thereafter I lost my job & monthly repayments became hard to make, R990pm for the loan and R634pm for the credit card. AB made sure I caught up by regularly debiting (& attempting to debit) my account at any time of the month. As soon as money went into my account they would deduct the repayments. I then got a temp job & carried on with payments. I then got 'retrenched' nov '12 & was told by AB to submit a letter to the insurance division who admitted to receiving my letter & that the request would be reviewed. I heard nothing & debit orders stopped, I thought my luck had changed only to get a shock in Feb when I was contacted & told I'm in arrears, insurance would not pay because I had not made payment the last 3 months, hello? I was unemployed & this was not explained to me. After making arrangement to pay a total installment of R1134 (634cc/500loan) Ref2002144958 since I am temporarily employed, d/o of R1134 came off 25th Feb no prob BUT then 15th March they deduct R990 (which was rejected) and R634, their response? I'm in arrears so they can do it?

Company: African Bank
Country: South Africa
City: In general

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