KM
Karabo M

1 reviews | Active since Jul 2019

11 Oct 2024, 14:40

Urgent Assistance Needed with Debt Rescue

I’m reaching out on this platform regarding my experience with Debt Rescue since 2021. While my contributions have been going smoothly, my calculations indicate that I should have completed paying off all my debts by now. However, I’ve been receiving ongoing messages and emails from creditors’ lawyers demanding payment.

I sent an email requesting paid-up letters for the creditors I owed, but I have not received any response. Additionally, I asked for a breakdown of my loan, but the information has been lacking. The statement I received in September 2024 shows a balance of R7,754.00 owed to African Bank, while African Bank states I owe R27,600.70. This discrepancy is concerning.

I contribute R3,663.15 every month, but only R3,073.50 is being paid to African Bank. I am confused about the remaining R589.00 and why it isn’t being app**** to my payments.

Furthermore, I was informed that I would finish paying the loan by 10/2025 as per my calculations now I will be done paying African Bank 06/2024, which is disheartening given my commitment over the past three years. I feel frustrated and believe my situation is being overlooked.

I would appreciate any assistance in reconciling this matter and clarifying the discrepancies.

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Replies (1)
Debt Rescue
Debt Rescue's reply11 Oct 2024, 15:22
Official
Good day Karabo,

Following up on our telephonic conversation earlier this afternoon.  I will investigate the creditors balances for you.  

Please note that the monthly distribution amount reflects the total after the PDA and aftercare fees are deducted, in accordance with the rules and regulations set out by the NCR.

I sincerely apologize for any inconvenience caused

Kind regards
Marlize
Debt rescue