Law abading citizen
<p>Dear Sir/Madam</p> <p>I have a loan debt with real people and due to unforeseen circumstances I defaulted and later I managed to make the account right. I took a loan of R40 000.00 and so far I have already paid R 77 660.00 and what I discovered on the last statement and the consultant confirmed that I need to pay a total of R80 138.4.<br />I according to the in du plum rule under the National Credit Act a client cannot be charged Interest/insurance that is over the capital but this company is charging me more. Can you kindly advise what or where must I take this. I just want to pay you guys and never look bank. All I am asking is for you guys to adjust the account accordingly. </p>
Thank you for your complaint, we will proceed to investigate and will provide you with feedback.
Kind regards
Georgina Witbooi
Tel: ***
Email: ***
Best regards,
Thank you for your complaint, we will proceed to investigate and will provide you with feedback.
Kind regards
Georgina Witbooi
Tel: ***
Email: ***
Best regards,
Thank you for affording us the opportunity to investigate your complaint.
We trust that we have addressed your concerns in respect of this particular account in our correspondence dated 27 May 2016.
In light of the above we have proceeded to close your query.
Georgina Witbooi
Tel: ***
Email: ***
Best regards,
Thank you for affording us the opportunity to investigate your complaint.
We trust that we have addressed your concerns in respect of this particular account in our correspondence dated 27 May 2016.
In light of the above we have proceeded to close your query.
Georgina Witbooi
Tel: ***
Email: ***
Best regards,
It is very strange that you are informing me that you have addressed the matter but I have never received any communication from you people regarding this issue. Please share with me what was the resolution to this issue.
It is very strange that you are informing me that you have addressed the matter but I have never received any communication from you people regarding this issue. Please share with me what was the resolution to this issue.
Dear xabiso-xesi
Kindly note that we have resubmitted our response dated 27 May 2016 to your email address provided herein.
Kind regards
Georgina Witbooi
Tel: **********
Email: **********
Best regards,
Dear xabiso-xesi
Kindly note that we have resubmitted our response dated 27 May 2016 to your email address provided herein.
Kind regards
Georgina Witbooi
Tel: **********
Email: **********
Best regards,
Good day
My query is regarding the in duplum rule that was not app**** on my account. Please read the National Credit Act (NCA), No 34 of 2005 regarding this issue below:
The National Credit Act (NCA), No 34 of 2005, incorporates a statutory version of the in duplum rule in section 103(5),
which is commonly referred to as the statutory in duplum rule. This section provides that “Despite any provision of the common law or a credit agreement to the contrary, the amounts contemplated in section 101 (1) (b) to (g) that accrue during the time that a consumer is in default under the credit agreement may not, in aggregate, exceed the unpaid balance of the principal debt under that
credit agreement as at the time that the default occurs.”
The amounts referred to in section 101(1)(b) to (g) include: initiation fees, service fees, interest, the cost of any credit insurance, default administration charges and collection costs (charges).
In a nutshell my account is in duplum, I borrowed R40 000.00 and the Interest+ insurance fees + collection cost are exceeding R 40 000.00. I have already paid R 79 891.14.
Please explain why I still owe R 2388.86?
Kind regards,
Kind regards,
Mr X Xesi
Good day
My query is regarding the in duplum rule that was not app**** on my account. Please read the National Credit Act (NCA), No 34 of 2005 regarding this issue below:
The National Credit Act (NCA), No 34 of 2005, incorporates a statutory version of the in duplum rule in section 103(5),
which is commonly referred to as the statutory in duplum rule. This section provides that “Despite any provision of the common law or a credit agreement to the contrary, the amounts contemplated in section 101 (1) (b) to (g) that accrue during the time that a consumer is in default under the credit agreement may not, in aggregate, exceed the unpaid balance of the principal debt under that
credit agreement as at the time that the default occurs.”
The amounts referred to in section 101(1)(b) to (g) include: initiation fees, service fees, interest, the cost of any credit insurance, default administration charges and collection costs (charges).
In a nutshell my account is in duplum, I borrowed R40 000.00 and the Interest+ insurance fees + collection cost are exceeding R 40 000.00. I have already paid R 79 891.14.
Please explain why I still owe R 2388.86?
Kind regards,
Kind regards,
Mr X Xesi