Credit Shortfall Settlement

<p>To whom it may concern,</p> <p> </p> <p>I keep calling your office and emailing Shameel Dookie but there is no response. Please can you clarify the following for me.</p> <p>There is an outstanding amount on my vehicle which was ****** that is still outstanding of roughly R 15 000. From my understanding of shortfall cover, the vehicle was supposed to be settled by you with whom I took out my shortfall cover with. http://www.insurancechat.co.za/tag/what-is-credit-shortfall-insurance/ (Credit shortfall insurance, also called top-up or gap insurance, is designed to cover this gap so you don’t have debt on a vehicle you no longer own.)</p> <p> </p> <p>I was told that shortfall cover would protect me from incidents like this and it would also insure that I do not owe the bank anything. The reason why I took this cover with VW SA, because I am a loyal customer and I support most of their additional products. I' m guessing that VW placed the shortfall cover with you which I was not advised off. Another point that I was not advised of is that only a percentage of the amount will be paid to the bank???</p> <p> </p> <p>Please advise on the following.</p> <p>Why is there still an outstanding amount?</p> <p> </p> <p>Kind Regards</p> <p>Jermaine Naidoo</p>