DIRECTAXIS INSURANCE NON PERFORMANCE

Although I am very grateful to Directaxis for providing me with a loan when I really needed it, I unfortunately have to write this review in response to my please for assistance in the light of my retrenchment. I duly informed them in April 2019 that I have been retrenched as I had retrenchment/loss of income cover on this loan on which I paid a hefty premium. I have kept my correspondence active with Directaxis throughout 2019, queried the status on my account etc. So far nothing has happened and in spite of my communication with their offices, they have done me the favour of listing me as an adverse payer with the credit bureaus and send me a statement of accumulating costs and the outstanding amount like clockwork. What is the point of having insurance against instances like this, if it means that they carry with debt recovery action against you in any event. Do they then actually just pocket that R300+ insurance premium that you pay on your loan amount, or what happens to that money? Needless to say - this has impacted on my credit score immensely. Fortunately, I have proof of all my correspondence with them, AND their insurance agent, and I am astonished at their insistence to keep me responsible for this loan, in spite of the insurance I paid for, specifically for events like this. Maybe the insurance has already paid them the outstanding amount t, and they're hoping to get double payment on this loan?