Drained

This is my detailed communique with different consultants. MFC a division of Nedbank. Due to a 0.50% increase in interest rates your new instalment on account no 14*******01 will be R 4366.17....I received that sms on the 18.02.2016 I was not informed of the increase in payment.The contract clearly stipulates that i need to be informed of any changes page 14 of 17 paragraph 32. To bring to your attention,as forwarded email,i spoke to gordon at nedbank on the 2016-02.18 with regards to changing from linked to fixed...I sent my documents as requested.I have not heard from Gordon but assumed everything was in-order as per our telephonic conversation. How does this become my problem?i did my part as a consumer and i expected a service.you deduct your money on time but fail to render a service..What happened to Gordon...I have the email with attachments that i sent to him and now i'm paying for his lack of service...Note the date of the interaction between myself and Gordon. And i cannot believe as per above sms,that my instalment ncreased twice in one month. I sent my paperwork to change my financa option... Good day Ms Chengan NOTE GORDAN N HAS VANISHED AND AT THE TIME MY ACCOUNT FEE INCREASED THIS IS WHAT THEY HAD TO SAY AND I HAD TO UNDERSTAND Thank you for your email, Please note that there has been 2 increases in the prime lending rate for 2016, the first announcement from the Reserve bank was on the 28th of January 2016, due to the fact that your debit order goes off on the 1st, your February instalment was not affected by the increase as the debit was already in the pipe line, hence the reason why the instalment only increased in March. The second interest rate increase was announced on the 17th of March 2016, thus the increase in your April instalment. We as a Financial institution have no control over interest rate hikes, we adhere to the decisions implemented by the South African Reserve Bank. Your interest rate option on your contract is linked, please refer to Part D of your contract which states the following: The Principal Debt is financed at a variable interest rate and the total interest payable is calculated monthly in arrears. Your total monthly instalments in Part C above, will rise or fall according to the changes in the prime rate (the prime rate means the publicly quoted basic rate of interest per annum). The interest rate compounded in terms of the monthly instalment payable above is linked by the margin of 2.5 % per annum ABOVE the Prime Lending Rate. With regard to the request sent for your interest rate to be changed to fixed, kindly send me the original email sent to ***, with the required documentation attached in order for me to investigate. The form attached needs to be accompanied by the following supporting documents: · Latest 3 months payslips or, · latest payslip with 3 months original stamped bank statements (No printouts) Kindly take note that the minimum fixed interest rate is prime+3%. This will increase your rate as well as your instalment for the remainder of your term. Please be advised that the above request is subject to approval from our Credit department Thank you Good day Shana We acknowledge receipt of your email. Your current instalment amount is R4401.69 Please note that if we fix your interest rate it does not remain the same rate that you currently have. A fixed interest rate would be prime plus 3% plus subject to credit approval. THIS IS VERY AS YOUR WEBSITE DOESN'T THIS AT ALL.I TO KNOW WHAT THE EXTRA 3% AND WH6 IS THIS NOT ON YOUR WEBSITE.GORDAN DIDN'T DO A DAMN THING WITH REGATDS TO MY PAPERWORK I SENT EVERYDAY..