Still indebted....no way out EVER

Please see below response received on the 4th June....

Please note no mention is made that I was overindebted when Absa financed my car. I was given an asset to buy even though I was way over the threshold and unable to actually pay for this car. I did however try to pay the amount off but going under debt review wasn't a choice I was forced to do so when I was unable to afford the payments. Absa has never nor will they ever admit to reckless lending but attempt to force me to pay for the rest of my life for a car I already paid over 60 thousand rands back to I still owe more than what the car actually cost. I don't have a choice but to pay but how can they force anyone to pay a monthly installment that is 2thousand Rand more than what that person earns. If my debt counsellor did there job I wouldn't be in this message to begin with. Yes they should answer for giving me finance when i could never afford it. It seems that the desperation of individuals is what Absa feasts on. Overcharging ... putting people in more debt even ift you try paying Absa you will always owe them. How do the people ever get out of debt.....because you never will. I was given a lesser amount to pay off my credit card ...my interest was halted but not with the vehicle they just want you to pay and pay and pay never to ever recover financially....EVER!!!!!

FW: FW: C- ********** 1 ********** 5 [ ref:_00D1r1GluM._5001r2IzMZ5:ref ] L le Grange, Daphne: Absa to me 7 days agoDetails Our Reference: C- ********** 1

Dear Mrs. Hendricks

We refer to your complaint addressed to the Disputes Resolution department.

Summary of Request:

You state in your complaint that you are struggling to make arrangement to keep your car.

Our Response:

Thank you for bringing this matter to our attention. The matter was referred to our Debt Review department for investigation and feedback. They have advise:

Account number: 7 **********

The account is no longer under debt review, it was terminated from debt review process on the 15/04/2019 due to no payment received for March 2019.

The matter was previously received as a balance dispute, balance was investigated and feedback was provided with statements.

Interest rate was verified from court order date 22/09/2011, we can confirm that you have been charged less interest rate of 10.00% instead of the 21.00% interest rate as per the granted order, therefore you benefited on a lower interest rate.

Please see the attached statements received from our vehicle finance department. Recalculation was also requested, and calculation reflects that there are no interest overcharged on the account and Induplum rule did not transgressed.

We have calculated the monthly service fees of R57.00 that were debited on the account from court order date until 08/2016 (last debit) which is R3306.00 in total, the fees reversal was completed on the 20/09/2018.

We only have statements of until 2018.

Kindly contact our vehicle finance collections department on ***to conclude an amicable repayment arrangement.

Regards,

Daphne le Grange

Specialist Case Managers

Customer Care: Complaints Resolution Suite

Retail and Business Banking