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Sabelo N

1 reviews | Active since Feb 2020

02 Oct 2020, 17:43

Payment holiday authorized for three months not concluded

I have vehicle finance with Absa and all along since I started the financing with them, I've been paying my installment every month without default, then came lockdown where everyone was affected and payment holiday was introduced of which I app**** and got an SMS for approval. Come the month ended, they deducted the money. I called in to query since I had app**** for a payment holiday, they reversed the money then next month they deducted again. Called in and the consultant said they will escalate the request then nothing till month-end and come the next 1st of the next month, they deducted again and now I was totally affected financially of which the next two months I defaulted and salary being cut and business slow, things were really difficult for me. Now it's my third month they are threatening to repossess the car, despite my payment holiday they did not conclude. I feel this is unfair that they didn't finish my three months payment holiday and no matter how I explain how the lockdown affected me and that I'm recovering financially, they are wanting to take the car with no consideration that I've been paying faithfully before the lockdown. The pandemic affected all of us and the least the bank can do is really look at considering grace to people to recover financially. The person assigned to my account is not listening to reason that I have to make an arrangement that will assist me to recover financially and commitment to paying towards my installment. All I need is time to re-adjust with the salary cut and find other channels of income of which I have invoiced for my extra services to clients who are finding it also difficult to make payments as we are all affected and in the recovery zone financially.

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