QUERY

My dad who has been a loyal client of ABSA for many years, has borrowed and paid back his debt. We are all aware that the interest rate is extremely high on loans (not even half of what you get when you save money with them) It so happened that dad needed money and so he took out a loan with them, of which he continued to pay, everything was up to date, a sudden unexpected problem occured and dad had no option but to go under debt review. So the debt review people collected money from dad and paid it on a monthly basis. Last year dad was called in and said that he was being retrenched. ABSA has now handed the accounts over to the lawyers and they are refusing to understand that he cannot afford to pay his monthly installment. Furthermore they are refusing to acknowledge that there is a clause that covers "RETRENCHMENT" I spoke to the debt counsellor that handled the accounts, and she confirmed that there was money that was surpose to go through for the insurance section, but the laywers say otherwise. They say that once an account has been handed over to debt counselling there is no insurance cover. They also cannot provide me with documents stating that. I would like ABSA to please confirm if this is true. Elizabeth