Absa
Settlement of a student loan

On 23/4 I went into ABSA's Woodbridge Branch to settle my student loan. Mariette Ellis posed the option of whether I wanted the policy, ceded to ABSA to secure the debt, to pay out directly into loan, leaving me to settle the difference. She accordingly logged an instruction. After a couple of phone calls during the course of the following week, she eventually forwarded me the form in which I have to formally instruct ABSA to instruct Sanlam to terminate the policy. A scanned copy of same was returned to her on the same day and receipt confirmed. I sent follow up e-mails on 2 & 4 April to ascertain the status of the request. On 5/4, Mariette informed me that they require the original instruction which I dropped at the branch on the 6th. On 9/4 she informed me that they have instructed Sanlam to pay out the policy into my student loan. I contacted Sanlam on 10 &11 April and they confirmed they haven't received the instruction. The original doc was then only couriered to Sanlam on 12/4. Sanlam provided proof of payment as per ABSA's instruction on 16/4. ABSA are still unable to confirm my settlement amount after almost a month. I only wish to settle the loan and never deal with ABSA!

Company: Absa
Country: South Africa
City: Woodbridge, Kempton Park

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