SM
Soza M

1 reviews | Active since Aug 2020

02 Feb 2023, 09:28

Restructure had to spread arrears but they increased the term by 8 months

I had query in December whereby the arrears on my account were restructured. The restructure was done wrong as what I requested was that the arrears be respread over the remaining term of the contract. They added an additional 8 months onto my contract and this is what I have been querying so is Absa trying to tell me my account was behind with 8 payments and no longer 2 payments. The restructure was approved in December and only sent to me on 1 February 2023. When I opened the restructured statement, I notice that my term increased by 8 months and my instalment amount remained the same. May someone please provide me with the calculation of this restructure as i will definitely have to escalate to the ombudsman if the answer I receive is not satisfactory.

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Replies (1)
Absa
Absa's reply02 Feb 2023, 13:23
Official
Dear Soza 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 the expected timeframe for further feedback/resolution via email or by making contact with you telephonically.   The reference number for your complaint is C-***4 Kind regards,Vanessa CroweGroup Customer Care