Baaaaad

I am lodging an urgent formal complaint regarding my Atlas Finance loan ***. My loan had fallen into arrears because I was no longer financially able to maintain the original repayment. I therefore contacted Atlas Finance and made a repayment arrangement of R300 per month, which was approved. Despite this approved arrangement, Atlas Finance has now deducted the full outstanding amount of approximately R9,000+ from my bank account. I did not agree to the full outstanding balance being collected in one transaction after the R300 monthly arrangement had been approved. This deduction has placed me in serious financial difficulty. I am not refusing to pay my outstanding debt. I was making the R300 arrangement specifically because that was the amount I could afford and that arrangement was approved by Atlas Finance. I am therefore requesting an urgent investigation into: Why the approved R300 monthly repayment arrangement was not honoured; The authority/mandate used to deduct the full outstanding amount; A complete statement showing how the amount deducted was calculated; and The urgent reversal/refund of the amount deducted in excess of the agreed repayment arrangement, if the debit was processed contrary to the approved arrangement.

Please register this as a FORMAL COMPLAINT and provide me with a complaint ***. I can provide proof of the approved R300 repayment arrangement and proof of the approximately R9,000 debit. I urgently request that no further debit be processed while this complaint is being investigated.