Debt solution/s

Dear Capitec Bank.

Please direct this communication to the Executive stakeholders.

I am reaching out to you as an individual and have been a Capitec client for several years.

You may ask how this is relevant and what importance do I hold, as I am sure you won’t deem me as valued.

I am referring this matter on the Hello Peter platform, because this is the only way that my concern will be thoroughly reviewed.

It is not undisclosed as per statistics that many South Africans find themselves over indebted.

There are a lot of factors leading to that, but evidently the most common facts that is the perception of many, is due to negligence associated with irresponsible spending and bad money habits, not having a budget, or not keeping within your living/spending limit.

No one really empathize, although every institution harps on empathy, putting themselves in the client’s shoes.

Covid came, a lot of companies retrenched, and a lot of people lost their jobs. Some including myself became the sole providers within our households. To sustain my family, I too got involved in debt, up to a point where I am not over indebted and drowning in debt. No one is proud to be in debt.

We seek solutions and the first place we reach out to is our banks, but they turn us down and we are forced to go to the small loan creditors that charges ridiculous interest rates and out of pure desperation we secure such loans, because your bank that you have been loyal too, refuses to even give you the time of day. They ran a report and with and explanation using the banking terminology, merely turn you down, by referring to your credit record and the National Credit Act’s rules and Regulations. Basically, making you feel like a ********.

We are all trying to survive and making ends meet, but I can’t and whenever I reach out to my bank with all the amazing lending products, they continuously turn me down. Don’t refer or suggest debt review, because it is just a long process, that I did once and honestly it did not help.

We all want to get out of debt and all I need is assistance from my Bank. I am not going to approach FNB, STD bank, Absa, or Nedbank. I don’t bank with them, but with Capitec who takes pride in serving their customers with dignity, loyalty, and integrity. Don’t look at how much I earn or my profile and regard me as worthless or judge me based on my circumstances but give me a chance to get out of debt, by having more solutions available to help us. If I can pay all these small creditors monthly, where I am forced to borrow again, what will stop me from paying my debt if the bank affords me an opportunity by providing me with a lending solution. All creditors now have a Debi- check mandates that the debtor must sign to ensure that they receive the monthly repayments.

Offer me a debt consolidation loan, that allows me to pay off all my debt and only have one loan to pay off. I am not oblivious to the processes involved and the terms and conditions, but I am asking you to help me, there must be someone that has the mandate to override certain terms and conditions. Do not just turn me down, but as my bank, I am asking you to step up and offer solutions by Capitec, not referring us to 3rd parties. Help me to get out of debt, so that I too can take out a home loan and pay off my bond instead of sustaining someone else lifestyle by paying rent. It brings me back to my argument that if I can pay R4000 towards rent every month what will stop me from paying this same amount towards my own bond. I am pleading with you to help me to get out of debt and in doing so, my credit score will improve, and I will also be eligible to apply for a home loan, to invest in my future. You have all these wonderful products available, which some of us cannot even consider, because you do not afford us the opportunity to do so.

Simplicity is the ultimate sophistication- the interpretation is creating simple yet effective solutions that is considered as a mark of true intellect.

Please consider my appeal!!!

Kind regards Samantha Daniels ***