1 reviews | Active since Jun 2011
Enrichment off ******* interest
I made a loan with ABSA of R16 000. Due to affordability issues I was placed under debt review.
During the process I paid back +-R45 000 on the loan as per debt review court order and attorneys instructions.
Now ABSA maintains I still owe them R25 000.
No one can get back to me with a satisfactory answer regarding the application of S103(5) of the National Credit act.
Thus according to ABSA, I need to pay back R69 000 on a loan of R16 000. This is 353% interest!
I have noticed that your account was referred to ombudsman for banking services with case reference *** and it was concluded with you. Since the ombudsman are the higher office i would suggest that you make another contact with them.
I have noticed that your account was referred to ombudsman for banking services with case reference *** and it was concluded with you. Since the ombudsman are the higher office i would suggest that you make another contact with them.