African Bank
False insurance on loan

I had been a loyal African Bank customer for years and took out small loans as i needed them and paid them off timeously. I lost my job in 2010 and i was under the impression that the loans were insured as there was money taken from my account for insurance. I am not being told that they cant cover the loans. They are cheating people by handing over the accounts to debt collectors for more money than to claim from the insurance money that they take every month for insurance purposes but they dont really use it. Im starting to question if this money being taken goes to insurance. I dont know which insurance company it is, no details of the insurance company are disclosed. We are hopeless and cheated by African bank as a result and the sad thing about it is that we cant do anything about it.

Company: African Bank
Country: South Africa
City: Marloboro

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