CREDIT INSURANCE/UNPROFESSIONAL/DISAPPOINTING/UNACCEPTABLE

I am very very disappointed with the service of Capitec Bank and their insurance institutes. I was retrenched in December due to the closure of my previous company. Upon receiving the news I went to Capitec with all the correct and required documentation for my claims to be paid out by my Credit Insurance policies that I have been paying with every loan/ credit transaction since inception.

After numerous trips, sometimes 3 times weekly following up with Capitec and 6 months later, my Capitec Credit Insurance has still not paid out the outstanding loan. I am mortified as neither party, Capitec or their Insurance department has any information and they do not liaise with one another. I had to facilitate the Application for their insurance company myself, as the consultant at Capitec did not submit my documentation in December. Since then, I had to follow up with Capitec and their insurance company weekly, with still no feedback...

I was also misinformed as how to the whole process works and therefore am liable to still pay a portion of my credit out of my own pocket even though I have paid for credit insurance all along.

Due to none of this being sorted out in 6 months - I have lost my credit score, I am not able to do anything on my own name and I do not have a working bank account on my name.

To make matters worse, I had to have my retirement fund paid out as I do not have access to my accounts due to this not being sorted out by Capitec, only to be informed that Capitec will now take the capital from my retirement fund being paid in for "arrears'' caused by themselves and their excuse is "they system"'

This is completely unacceptable since I have been with them for over a decade and always insured that my accounts were up to date and paid in order to maintain a great credit score. This saddens me.

Horrified by the poor quality and customer service and lack of knowledge from their consultants on their own products.

If this does not get sorted out I will proceed with the Ombudsman as well as sue them for destroying my credit worthiness, and for trauma and distress.

HOW IS IT POSSIBLE THAT AFTER 6 MONTHS NO ONE KNOWS WHAT'S GOING??