My Edgars account has been handed over to Capitol Debt Recovery for collection. I went under debt review in 2009 and subsequently my account wasn't paid by Credit Matters. I have made an arrangement to pay R350 per month as I am in no position to pay anything more. However the interest charged monthly on my account is just under R350. When I went under debt counselling my outstanding balance was R9 697, 81. My balance now is now in excess of R19 000. The in duplum rule should be applied and it hasn't. The rule states that interest stops running when the unpaid interest equals the oustanding capital". I have queried this with Edgars in October 2013 on and a lady by the name of Amanda from Edgars Regional Credit Office called me. She said she was going to speak to their debt counsellor expert and get back to me. I do not see why I should continue paying R350 every month when Edgars are not doing their bit by assisting me in capping this account at a set balance. I will never pay this account off if they just keep on adding interest month after month - hence the reason that the in dupum rule should be applied. I will be reporting this to the credit ombudsman
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