AH
Anke H
1 reviews | Active since Jun 2024
03 Jun 2024, 15:03
Confused about the prosess
They helped me reduce my repayments by more than R10 000, but I feel stuck now. I've been with them for 11 months now and my debt still haven't gone down visibly, the statements also don't match up, one month the amount own is more than the previous month, the amounts also don't add up with those on my credit report. I feel like this was a mistake to join FinFix.
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FinFix's replyOfficial
03 Jun 2024, 15:21 Good day Anke,
Thank you so much for taking my call and providing us with the opportunity to resolve this matter.
During the debt counseling process, we renegotiate credit agreements to secure lower interest rates. However, interest continues to be charged on the existing debts during the initial phases, which can cause the total amount owed to temporarily increase. The reduction in interest rates only takes effect once the court approves the new payment plan. It is important to note that the original outstanding balances typically reflect only the principal amounts, excluding the accumulated interest.
The original interest does not simply disappear; rather, we negotiate for a reduced rate. This is why the current outstanding balances may appear higher than when you initially joined the debt review process, due to accrued interest.
As we also discussed regarding the specific credit providers statements they have informed me that their statements are documented one month in arrears. Therefore, the statement for the end of June will only reflect the payments made by the end of May.
We are glad that this matter was resolved.
Please let us know should you have any other questions or need assistance with anything else.
Kind regards.
FinFix team.
Thank you so much for taking my call and providing us with the opportunity to resolve this matter.
During the debt counseling process, we renegotiate credit agreements to secure lower interest rates. However, interest continues to be charged on the existing debts during the initial phases, which can cause the total amount owed to temporarily increase. The reduction in interest rates only takes effect once the court approves the new payment plan. It is important to note that the original outstanding balances typically reflect only the principal amounts, excluding the accumulated interest.
The original interest does not simply disappear; rather, we negotiate for a reduced rate. This is why the current outstanding balances may appear higher than when you initially joined the debt review process, due to accrued interest.
As we also discussed regarding the specific credit providers statements they have informed me that their statements are documented one month in arrears. Therefore, the statement for the end of June will only reflect the payments made by the end of May.
We are glad that this matter was resolved.
Please let us know should you have any other questions or need assistance with anything else.
Kind regards.
FinFix team.
FinFix's reply03 Jun 2024, 15:21
Official
Good day Anke,
Thank you so much for taking my call and providing us with the opportunity to resolve this matter.
During the debt counseling process, we renegotiate credit agreements to secure lower interest rates. However, interest continues to be charged on the existing debts during the initial phases, which can cause the total amount owed to temporarily increase. The reduction in interest rates only takes effect once the court approves the new payment plan. It is important to note that the original outstanding balances typically reflect only the principal amounts, excluding the accumulated interest.
The original interest does not simply disappear; rather, we negotiate for a reduced rate. This is why the current outstanding balances may appear higher than when you initially joined the debt review process, due to accrued interest.
As we also discussed regarding the specific credit providers statements they have informed me that their statements are documented one month in arrears. Therefore, the statement for the end of June will only reflect the payments made by the end of May.
We are glad that this matter was resolved.
Please let us know should you have any other questions or need assistance with anything else.
Kind regards.
FinFix team.
Thank you so much for taking my call and providing us with the opportunity to resolve this matter.
During the debt counseling process, we renegotiate credit agreements to secure lower interest rates. However, interest continues to be charged on the existing debts during the initial phases, which can cause the total amount owed to temporarily increase. The reduction in interest rates only takes effect once the court approves the new payment plan. It is important to note that the original outstanding balances typically reflect only the principal amounts, excluding the accumulated interest.
The original interest does not simply disappear; rather, we negotiate for a reduced rate. This is why the current outstanding balances may appear higher than when you initially joined the debt review process, due to accrued interest.
As we also discussed regarding the specific credit providers statements they have informed me that their statements are documented one month in arrears. Therefore, the statement for the end of June will only reflect the payments made by the end of May.
We are glad that this matter was resolved.
Please let us know should you have any other questions or need assistance with anything else.
Kind regards.
FinFix team.