Monthly installment not aggreed upon

<p> </p> <p>I went to capitec Bank in Pretoria Brooklyn in December 5th 2016 to get a mini loan to sort out my car issues as I got involved in a car accident and needed some funds to pay access and penalties fees. Alternatively I was advised by the consultant that capitec can actually offer more, they can give me a loan to settle my car financed by Absa. They worked out a loan agreement and I highlighted to them that I was paying around R2380 with Absa as monthly instalment and I would still want to pay around the same amount with Capitec, then they worked out a calculation that allowed me to pay R2500 monthly instalment and I agreed to that fee. The bank had now closed and I was the only customer left in the bank and they needed to cash off and all and I was requested to make it snappy and initial all the pages and sign where is needed, I finished with all that and got my copy of the contract, they paid off the car and transferred the balance into my account.</p> <p> </p> <p>The issue started no when the first debit took off:</p> <p>1 - I was alerted when the debit went off for R3500 instead of the agreed R2500.</p> <p>2 - I was told the first monthly instalment would go off in January and I was surprised when it was in December and it was R3500.</p> <p>I called the bank to enquire as to why is the debit R3500 and not R2500? I was told I will have to come into the branch to make the changes, I eventually went into the branch but when I got there I was told the changes cannot be made they can only amend the account after 3 months as the System doesn’t allow them to make any changes, I highlighted to them the impact that will cause on my profile and account as it will affect my financial means as it was high to cover on monthly bases before it gets sorted. They were sorry about that as unfortunately they couldn’t change it then.</p> <p> </p> <p>I had to make means to live with the strains that caused on my financial status and had to make means to arrange to settle other debit orders I have, I got to a point my phones with Vodacom were in arrears, my Absa Credit card and Markham clothing account are in arrears and Vodacom Disconnected my phones due to non-payments.</p> <p> </p> <p>I went back to Capitec this month as it marked the 3 Months to go make amendments on the Account, but I was told I have to wait for another 2 months before they can Change the Instalment to the one agreed upon. I was so strained financially and went to reverse their March payment to go ease up my other debits and connect my phones as I and my Girlfriend could be contacted telephonically and that was a major impact.</p> <p> </p> <p>I went into the bank today to make arrangements with the bank Collector and Capitec management but I was told they cannot make the required changed and to refund my account after having taken even the reversed amount. They only agreed to lower the instalment to R3000 for only 6 Months and increase the payment period, I did not agree to that as still that amount is high to settle on monthly basis and it will still put me in a situation where I’m leaving above my means.</p> <p> </p> <p>I so wish this could be given more consideration and be sorted out as it is affecting my credit record score over something that was not my fault.</p> <p> </p> <p>Regards,</p> <p> </p> <p>Edward Motshana</p> <p> ********** 156</p> ********** <p> </p> <p> </p>