Debt review
<p>ID- ********** 379089</p> <p> </p> <p>Good day</p> <p>Im under debt review and my debt councilor debt safe, i get into this prosses hoping to become debt free in 5yrs to come but it seems that there is nothing like that,because my principal debt was 210 000 but now im going to pay more than 600 000 i think there is something wrong with payment plan and proposal,can you please check if there is nothing wrong with creditors interest because it seems the interests are more than capital credit/loans of which its not fair.</p> <p> </p> <p>Thank you</p>
I refer to our telephonic conversation and we report the following.
Please understand that we can only pay the creditors with money that you have available.
Please take note that interest is always payable and this cannot be stopped or reduced, the interest rate will stay the same as you agreed on in your original credit agreement.
You confirmed that you are aware that the total interest, charges and fees the creditor is entitled to may never exceed the balance on the date of first default.
The creditor is entitled to the interest rate agreed to on the original credit agreement subject to the provisions of Section 103(5) of the Act. This section limits interest that a creditor may charge on an account. The total interest, charges and fees the creditor is entitled to may never exceed the balance on the date of first default. All interest charged in addition to that, needs to be written off by the creditor and all future charges halted.”
You are currently disputing the balances, please be advised as discussed we will do a full review due to end balance differences that occur in the debt review process.
We will also make sure that all your creditors have restructured the accounts according to the granted court order.
You are a valued client and we do take your best interest at heart.
Kind regards
Heidi Bekker
Quality Assurance & Compliance Officer
Best regards,
I refer to our telephonic conversation and we report the following.
Please understand that we can only pay the creditors with money that you have available.
Please take note that interest is always payable and this cannot be stopped or reduced, the interest rate will stay the same as you agreed on in your original credit agreement.
You confirmed that you are aware that the total interest, charges and fees the creditor is entitled to may never exceed the balance on the date of first default.
The creditor is entitled to the interest rate agreed to on the original credit agreement subject to the provisions of Section 103(5) of the Act. This section limits interest that a creditor may charge on an account. The total interest, charges and fees the creditor is entitled to may never exceed the balance on the date of first default. All interest charged in addition to that, needs to be written off by the creditor and all future charges halted.”
You are currently disputing the balances, please be advised as discussed we will do a full review due to end balance differences that occur in the debt review process.
We will also make sure that all your creditors have restructured the accounts according to the granted court order.
You are a valued client and we do take your best interest at heart.
Kind regards
Heidi Bekker
Quality Assurance & Compliance Officer
Best regards,