Debt review settlement

<p>I've phoned and send Absa debt review department an email requesting a discounted settlement amount. My initial debt at default in 2009 was 35400.00. Last week I was informed that I am not allowed to get a discount due to me being under debt review and I have a settlement of 91000.00. Also they couldnt provide me with a settlement amount for Virgin Money. </p> <p><br />I can not understand that I have to pay more than 3 times my outstanding balance???</p> <p> </p> <p>Section 103(5) is not taken in consideration. According to the act this means the amount that is in arrears under a credit at the time of debt review may not increase to double the amount (including all interests and costs)until the amount owed is doubled. Thereafter no fees or interest may be added and the double amount is the amount that should be paid of.</p> <p><br />Brenda Olivier </p> <p> </p>