Item: Momentum (SA)
Rating: 1
Author: DAVID D

DD

DAVID D's updateReviewer Update

01 Oct 2025, 10:11

I am writing to lodge a formal complaint against Momentum regarding their handling of my account, which has caused me significant distress over the past three months, culminating in the repossession of my car last night.Despite my accounts being in arrears, Momentum has failed to communicate effectively or provide any reasonable support to resolve the matter. I have received no prior notice, warnings, or attempts to discuss repayment options, leaving me blindsided by their actions. This lack of communication and transparency has made my life extremely difficult, and the sudden repossession of my vehicle has exacerbated my financial and personal challenges.I request that HelloPeter investigate Momentum’s conduct, including their failure to engage with me and their aggressive approach to repossession without adequate notice. I seek a resolution that includes clear communication from Momentum, a review of their actions, and assistance in addressing my account status to prevent further distress.Please advise on the next steps and any additional information you require from me to proceed with this complaint.Thank you for your assistance.

DD

DAVID D's update01 Oct 2025, 10:11

Reviewer Update

I am writing to lodge a formal complaint against Momentum regarding their handling of my account, which has caused me significant distress over the past three months, culminating in the repossession of my car last night.Despite my accounts being in arrears, Momentum has failed to communicate effectively or provide any reasonable support to resolve the matter. I have received no prior notice, warnings, or attempts to discuss repayment options, leaving me blindsided by their actions. This lack of communication and transparency has made my life extremely difficult, and the sudden repossession of my vehicle has exacerbated my financial and personal challenges.I request that HelloPeter investigate Momentum’s conduct, including their failure to engage with me and their aggressive approach to repossession without adequate notice. I seek a resolution that includes clear communication from Momentum, a review of their actions, and assistance in addressing my account status to prevent further distress.Please advise on the next steps and any additional information you require from me to proceed with this complaint.Thank you for your assistance.

Momentum (SA)'s replyOfficial

01 Oct 2025, 12:43

Dear David
Thank you for your message.
Your complaint was escalated to the fund managers.
Kind regards
mvdm

Momentum (SA)'s reply01 Oct 2025, 12:43

Official

Dear David
Thank you for your message.
Your complaint was escalated to the fund managers.
Kind regards
mvdm

DD

DAVID D's updateReviewer Update

01 Oct 2025, 16:10

Thank you for your recent response to my formal complaint regarding my pension benefit. While I appreciate the acknowledgment, I remain deeply concerned and dissatisfied with the handling of my case.

First, I must question why it has taken three full months for Momentum to act on my claim. According to your own Complaints Management Process, Momentum Insure is required to consider claim disputes and provide a response within a maximum of 45 business days from receipt. This delay far exceeds that timeframe and the legal expectation under South African insurance regulations for insurers to investigate, assess, and communicate decisions promptly (as emphasized by the Prudential Authority and cases like those handled by the National Financial Ombud Scheme). This prolonged inaction has caused unnecessary stress and financial strain—please provide a full explanation for this breach, including any internal records or reasons for the oversight.

Second, with only 48 hours remaining before I risk losing my vehicle permanently "due to impending repossession by the finance provider" or "as per the impound notice", I urgently demand immediate steps to prevent this outcome. What specific actions is Momentum committing to right now to finalize the claim payout or interim relief? I expect a detailed plan, including timelines and responsible contacts, by "close of business tomorrow" to avoid further escalation.

Finally, the emotional toll of this ordeal—waiting in limbo, fearing the loss of my primary mode of transport, and dealing with the constant anxiety—has been immense. This delay has inflicted significant pain, suffering, and trauma, exacerbating my daily life and mental well-being. In line with South African consumer protection principles under the Consumer Protection Act and precedents for consequential damages from negligent claim handling, I am demanding compensation for emotional distress, plus any quantifiable losses like rental car costs or lost income. Please outline how Momentum proposes to address this, including a settlement offer.

I expect a substantive response within 24 hours to resolve these issues without further delay. If this is not forthcoming, I will have no choice but to escalate to the National Financial Ombud Scheme South Africa (NFOSA)—noting that I must do so within 6 months of your final internal outcome—and pursue all available remedies, including legal action for the full extent of my damages.

Please confirm receipt and direct all further correspondence to this email ***.

Thank you for your urgent attention. I trust Momentum values its policyholders and will act fairly to rectify this.

DD

DAVID D's update01 Oct 2025, 16:10

Reviewer Update

Thank you for your recent response to my formal complaint regarding my pension benefit. While I appreciate the acknowledgment, I remain deeply concerned and dissatisfied with the handling of my case.

First, I must question why it has taken three full months for Momentum to act on my claim. According to your own Complaints Management Process, Momentum Insure is required to consider claim disputes and provide a response within a maximum of 45 business days from receipt. This delay far exceeds that timeframe and the legal expectation under South African insurance regulations for insurers to investigate, assess, and communicate decisions promptly (as emphasized by the Prudential Authority and cases like those handled by the National Financial Ombud Scheme). This prolonged inaction has caused unnecessary stress and financial strain—please provide a full explanation for this breach, including any internal records or reasons for the oversight.

Second, with only 48 hours remaining before I risk losing my vehicle permanently "due to impending repossession by the finance provider" or "as per the impound notice", I urgently demand immediate steps to prevent this outcome. What specific actions is Momentum committing to right now to finalize the claim payout or interim relief? I expect a detailed plan, including timelines and responsible contacts, by "close of business tomorrow" to avoid further escalation.

Finally, the emotional toll of this ordeal—waiting in limbo, fearing the loss of my primary mode of transport, and dealing with the constant anxiety—has been immense. This delay has inflicted significant pain, suffering, and trauma, exacerbating my daily life and mental well-being. In line with South African consumer protection principles under the Consumer Protection Act and precedents for consequential damages from negligent claim handling, I am demanding compensation for emotional distress, plus any quantifiable losses like rental car costs or lost income. Please outline how Momentum proposes to address this, including a settlement offer.

I expect a substantive response within 24 hours to resolve these issues without further delay. If this is not forthcoming, I will have no choice but to escalate to the National Financial Ombud Scheme South Africa (NFOSA)—noting that I must do so within 6 months of your final internal outcome—and pursue all available remedies, including legal action for the full extent of my damages.

Please confirm receipt and direct all further correspondence to this email ***.

Thank you for your urgent attention. I trust Momentum values its policyholders and will act fairly to rectify this.

Momentum made my life a living hell