CN
Crescent N
1 reviews | Active since Nov 2016
06 Oct 2017, 05:14
Incompetence
Good day, I have been with Debtsafe since 2016 December, my concern is that I'm finding myself owing more than I did, I went to ask for statements from my creditors and none are being paid properly i still owe 100 times more. I am not happy with this and seemingly my money goes to their fees and not my creditors. I do not even know who my relationship manager is, no one communicates with me. Is there any better debt review company i can be referred to. I'm sickbof this incompetence.
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DebtSafe's replyOfficial
06 Oct 2017, 11:52
I refer to our telephonic conversation and report the following.
Kindly take note that your Relationship Manager will be in contact with you later today.
I would also like to take the opportunity to explain the following to you.
The amount you pay is calculated according to your affordability, according to a budget that you complete. Please understand that we can only pay the creditors with money that you have made available.
We issue a repayment proposal that effectively reduces the repayment amount but increases the period of payment.
The reason why the outstanding balances can increase and not decrease is due to the fact that the monthly payment towards your creditor is less than the monthly interest charged by the creditor. According to all credit agreements, the interest is always paid first and then the capital amount. The balances will decrease once interest is paid in full.
You are currently disputing the balances, please be advised that we will do a full review and also make sure that all your creditors have restructured according to the granted court order.
The fees you are referring to:
You are paying an aftercare fee. The fee is payable as work will be done continuously though out the process.
The Hyphen PDA fee is payable in order for Hyphen to do the distributions. Please take note that all creditors are to receive payment through a licensed payment distribution agent as imposed by the NCR.
I trust you will find the above in order.
Kind regards,
Heidi Bekker
Quality Assurance & Compliance Officer
Best regards,
DebtSafe's reply06 Oct 2017, 11:52
Official
I refer to our telephonic conversation and report the following.
Kindly take note that your Relationship Manager will be in contact with you later today.
I would also like to take the opportunity to explain the following to you.
The amount you pay is calculated according to your affordability, according to a budget that you complete. Please understand that we can only pay the creditors with money that you have made available.
We issue a repayment proposal that effectively reduces the repayment amount but increases the period of payment.
The reason why the outstanding balances can increase and not decrease is due to the fact that the monthly payment towards your creditor is less than the monthly interest charged by the creditor. According to all credit agreements, the interest is always paid first and then the capital amount. The balances will decrease once interest is paid in full.
You are currently disputing the balances, please be advised that we will do a full review and also make sure that all your creditors have restructured according to the granted court order.
The fees you are referring to:
You are paying an aftercare fee. The fee is payable as work will be done continuously though out the process.
The Hyphen PDA fee is payable in order for Hyphen to do the distributions. Please take note that all creditors are to receive payment through a licensed payment distribution agent as imposed by the NCR.
I trust you will find the above in order.
Kind regards,
Heidi Bekker
Quality Assurance & Compliance Officer
Best regards,