Loans given when not affordable

<p>I was in a bit of a pickle when I desperately needed a deposit for a flat so, taking a chance I went to Capitec where I had banked for years and requested a loan. I was very surprised they gave me a loan and wanted to give more than what I needed, in fact the customer service lady was almost pushing me to take more. I decided to be responsible and take only slightly more than what I actually needed so that I could be sure to afford the instalments. </p> <p>Long story short I got a call six months later to say I may qualify for another loan, unfortunately I did actually need the money (no need to go into reasons why) so off I went to Capitec with all the relevant documentation. I did actually qualify for another loan and this time the customer service lady was insistent that I take more than I needed as they would be paying off the initial loan with this money and then having a new loan which provided a credit facility as well. So after much indecision I decided to go ahead with the loan. About four months later the car we bought needed some work done which we had done but the people that did the work botched something else and we needed money to get it fixed as those people insisted that it wasn't them and we had no proof that it was, so I toddled off to Capitec to try my luck once again. Again I was completely shocked that I did actually qualify for yet another loan and this time the customer services gentleman was quite insistent that I take the whole amount as I wouldn't be able to take another loan for quite some time. I was very very reluctant as I knew I would have serious trouble paying back the loan and if anything happened and I needed money I wouldn't have any as I'd be paying majority of my salary into the loan (which I'm sure is ******* anyway) and I couldnt get another loan, but the customer service gentleman was insistent that this was the best course of action (he's suposed to be able to advise clients in relation to finances??). So after much discussion I agreed and took the loan.</p> <p>A few months later disaster struck and I needed money and to put the cherry on the cake Capitec stopped the credit facility which I was relying on every month (apparently its only valid for 6 months although I wasn't told this) so I went into the bank to find out if the credit facility could be reinstated which would help a bit. I was told that they couldnt tell me if it would be reinstated until I'd paid it, I explained that I couldn't afford to pay that money if I wasn't going to get the credit facility and I needed a definte answer which they couldn't give me. Bearing in mind that I'd paid every single installment without fail even though I was now struggling every month with these payments.</p> <p>I had no choice but to go to another bank. Since then I have contacted them and informed them what I am able to pay, they said it is not enough and that I signed papers saying I could afford the loan repayments and that I am now liable for those amounts. I told them I could afford a certain amount and that is all I can afford and that no matter what they say I can't afford more and they werent happy. I eventually sent an email stating that I would not enter into any discussions as this was what I could afford and if it wasn't enough then there is nothing I can do about that and I gave the amount and dates I would make payment.</p> <p>Since then they have called me at least twice every day heaven knows what for, and I've blocked the numbers so they can't reach me becuase as I said to them my circumstances don't matter a damn to them all they want is their money and they will get it, but in installments I can afford. Moral of the story don't loan money when you're taking more than half the salary back in repayments!!!</p> <p> </p> <p> </p>