TI
Thuso I
1 reviews | Active since May 2017
16 May 2020, 21:05
Payment Relief
After Absa Group says it is rolling out an extensive relief programme for eligible customers impacted by the coronavirus with its relief measures.They have sent me April statements with my account in arrears after speaking to them several time and sending emails,I have never missed a payment on my account and I was only impacted by the unprecedented times of the pandemic...each an every there’s a response that communication has been sent to a consultant who will then assist until today no one has got back to me and I am now supposed to pay a whooping 8000 rand by the end of May?...what does this supposed to mean Absa?This is so uncalled and I would have understood if there was no communication.
Kindly assist...as this is so sad for..
Helpful (0)
Replies (3)0
Replies (3)
Absa's replyOfficial
18 May 2020, 10:42Dear Thuso Itumeleng Thank you for bringing this unfortunate matter to my attention and please accept my sincere apology . I will review and provide you with my specific contact details as well as your unique complaint reference number, and an expected timeframe for further feedback within the next four hours . Kind regards,Daphne Le GrangeGroup Customer Care
Absa's reply18 May 2020, 10:42
Official
Dear Thuso Itumeleng Thank you for bringing this unfortunate matter to my attention and please accept my sincere apology . I will review and provide you with my specific contact details as well as your unique complaint reference number, and an expected timeframe for further feedback within the next four hours . Kind regards,Daphne Le GrangeGroup Customer Care
TI
Thuso I's updateReviewer Update
14 Oct 2020, 19:26This explanation still remains null and void because we never came into agreement for an extension of terms.
Capitalized interest is a second reason my loan may end up costing more than the amount I originally borrowed. ... At certain points in time—when my separation or grace period ends, or at the end of forbearance or deferment—my Unpaid Interest may capitalize. That means it is added to your loan's Current Principal.Was this stipulated?No
My payment relief was not extended whatsoever and the term extension has not been explained or is not even written under your terms and conditions which still remains a hidden factor for an institution to derive more in interest.For a credit term to be naturally adjusted because of interrupted payments is only understandable when terms does not exceeds maximum of four months...Banks are reaping us off.
I therefore want to contest the additional 7 months term increments with Absa Group.
Please revise this and further explain in detail how will your clarity of personal loan capitalization impose such extension.From 3 to 7.Thats a reap off
Capitalized interest is a second reason my loan may end up costing more than the amount I originally borrowed. ... At certain points in time—when my separation or grace period ends, or at the end of forbearance or deferment—my Unpaid Interest may capitalize. That means it is added to your loan's Current Principal.Was this stipulated?No
My payment relief was not extended whatsoever and the term extension has not been explained or is not even written under your terms and conditions which still remains a hidden factor for an institution to derive more in interest.For a credit term to be naturally adjusted because of interrupted payments is only understandable when terms does not exceeds maximum of four months...Banks are reaping us off.
I therefore want to contest the additional 7 months term increments with Absa Group.
Please revise this and further explain in detail how will your clarity of personal loan capitalization impose such extension.From 3 to 7.Thats a reap off
TI
Thuso I's update14 Oct 2020, 19:26
Reviewer Update
This explanation still remains null and void because we never came into agreement for an extension of terms.
Capitalized interest is a second reason my loan may end up costing more than the amount I originally borrowed. ... At certain points in time—when my separation or grace period ends, or at the end of forbearance or deferment—my Unpaid Interest may capitalize. That means it is added to your loan's Current Principal.Was this stipulated?No
My payment relief was not extended whatsoever and the term extension has not been explained or is not even written under your terms and conditions which still remains a hidden factor for an institution to derive more in interest.For a credit term to be naturally adjusted because of interrupted payments is only understandable when terms does not exceeds maximum of four months...Banks are reaping us off.
I therefore want to contest the additional 7 months term increments with Absa Group.
Please revise this and further explain in detail how will your clarity of personal loan capitalization impose such extension.From 3 to 7.Thats a reap off
Capitalized interest is a second reason my loan may end up costing more than the amount I originally borrowed. ... At certain points in time—when my separation or grace period ends, or at the end of forbearance or deferment—my Unpaid Interest may capitalize. That means it is added to your loan's Current Principal.Was this stipulated?No
My payment relief was not extended whatsoever and the term extension has not been explained or is not even written under your terms and conditions which still remains a hidden factor for an institution to derive more in interest.For a credit term to be naturally adjusted because of interrupted payments is only understandable when terms does not exceeds maximum of four months...Banks are reaping us off.
I therefore want to contest the additional 7 months term increments with Absa Group.
Please revise this and further explain in detail how will your clarity of personal loan capitalization impose such extension.From 3 to 7.Thats a reap off
Absa's replyOfficial
16 Oct 2020, 16:34Dear Thuso
We acknowledge receipt of your posting
Your further concern will be reviewed.
Your complaint reference number is C-***6.
We will provide you feedback by close of business 21 October 2020
Regards
Daphne Le Grange
We acknowledge receipt of your posting
Your further concern will be reviewed.
Your complaint reference number is C-***6.
We will provide you feedback by close of business 21 October 2020
Regards
Daphne Le Grange
Absa's reply16 Oct 2020, 16:34
Official
Dear Thuso
We acknowledge receipt of your posting
Your further concern will be reviewed.
Your complaint reference number is C-***6.
We will provide you feedback by close of business 21 October 2020
Regards
Daphne Le Grange
We acknowledge receipt of your posting
Your further concern will be reviewed.
Your complaint reference number is C-***6.
We will provide you feedback by close of business 21 October 2020
Regards
Daphne Le Grange