Steep repayment period

Good day,

I trust you are well.

I had previously taken a personal loan with the bank but was unable to fulfil my monthly instalments due to financial difficulties. The account has since been handed over to Shackelton Credit Management, I have requested to pay R20 000 as a settlement figure on the basis that I will get a job, however, I did not make it. Shackelton came back to say that ABSA wants me to pay R30 000,00 over 4 months, which is very difficult for me as I am currently unemployed.

I have been retrenched and got less than R87 000,00 as severance payout. Considering my financial situation and unemployment status I requested to pay R2 500 for the next 12 months but my request is being blatantly declined, I am being told that the bank has declined the request, either I pay the R30 000,00 as a once off payment or over 4 months and If ever I cannot I should pay the R2 500 monthly until such time I am able to pay the lump sum.

The position I am in right now, is very painful as there is a 17 months old baby I need to take care of and other expenses. As it is I have laid off my helper and also cut off on other expenses just so I am able to pay the R2500 monthly.

I really want to have this matter resolved but the bank and the third party collectors are making it impossible for me to resolve it. I really do not like the situation I find myself in as it is heavy emotionally and mentally.

I am really pleading with the bank to consider my request, should my financial status change I will then increase the monthly payment or even settle.

To show my commitment I am even prepared to pay R2 500 on the 19th November 2024 and the 26th of every month going forward, should I then default then the arrangement can be cancelled and commence with legal action.

I am really begging the bank to consider my request so that my credit record can also be restored.