Absa Unfair treatment, so they can repossess the house.

I am not working and have no income. I have Home loan with Absa and life cover with Nedbank, I decided to cancel my life cover as I cannot afford, I want the money from my Nedbank life cover to pay for my Absa home loan arrears. Nedbank need a “Release of Cession” from Absa to be able to release the funds.

Absa refuses to do the following:  I asked for Release of Cession: Due to my account in arrears which was caused by my retrenchment.  I asked the letter from Absa to stating the Nedbank life cover amount to be paid directly in to my Absa Bond account, which will be deposited directly in to my bond from Absa. Absa is refusing.

I think Absa is being unfair to me, how am I going to get the money to settle my arrears in order for me to get “Release of Cession” cause I am not working and I have cancelled my life cover with Nedbank so I can pay my arrears. it is not that I refuse to pay my arrears, I don’t have money, I am not working. The only funds I have are in Nedbank life cover.

This is unfair treatment and I believe Absa is doing this so it can be able to repossess my house.

People be careful of Absa