Loan Application

I have app**** for a loan at Matrix finance and they pre-approved it but required for me to pay Contractual fee of R2999.99 for the loan to process then the funds will be available into my account in 60 n=minutes but that did not happened. 2 days past telling me that my loan application is in the legal department then they send me an e-mail that Legal and Stamp Duty Fee of R4,490.50 , is required immediately before the funds can be released. I send an e-mail that im cancelling the loan application then their respond was You are hereby requested to reply directly to this email with the email. Upon receipt of your reply, our Compliance Operations Team will promptly transmit the dedicated payment details and your unique reference code. Payment confirmation will trigger immediate and automated processing for same-day fund transfer.

Consequences of Non-Compliance:

As mandated, failure to settle this statutory fee before the close of business today will result in:

An automatic hold being placed on your loan disbur*****t.

The escalation of your file to the Credit Risk Department for potential cancellation due to non-compliance with regulatory requirements.

The necessity for a full re-application and credit reassessment should you seek funds in the future.

Note: If you don't have the payment currently, your loan will still remain available for the next 14 days. The alternative option is a cancellation and early termination of the contract. we will then have initiate the cancellation and refund process.

Also note that the credit repair and correction of your credit record are currently ongoing. As part of the termination procedure—which typically takes 14 to 21 working days—we are required to:

Halt and reverse the credit repair process being handled by our liaison officer.

Withdraw your records from the credit registry bureau.

Stop all related loan processes and reverse the contract that has already been drafted.

A R1,293.50 cancellation and loan—withdrawal fee applies due to contractual termination processes and withdrawal process.