sS
salome S
1 reviews | Active since May 2016
24 Aug 2020, 11:30
MFC UNJUSTIFIABLY LABELLING EXELLENT RECORDS AS BEING IN "DEFAULT"
I want to warn ALL clients NOT to settle for this so-called COVID relief as it WILL come back to bite you in the **** !!! Your GOOD name WILL be dragged through the MUD !!! Your credit record WILL be impacted on an EXTREMELY NEGATIVE way.
I have app**** for, and received WRITTEN APPROVAL for 3 months (May, June & July). On 01 August 2020 the FULL installment PLUS extra interest for the 3 months "relief" was deducted.
Now all of a sudden, I received a notification from MFC stating : "As the client’s account remains in default without just cause, we hereby give notice of our intention to immediately enforce our rights in terms of our agreement /facility with the client in accordance with the provisions of the National Credit Act .”
*** MFC --- HOW DARE YOU !!!!!!!!!!!!!!!!!
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Replies (4)
Motor Finance Corporation's replyOfficial
24 Aug 2020, 13:29Dear Mrs. Margerstein
We acknowledge receipt of your complaint posted on Hello Peter.
Your complaint has been assigned to a service resolution specialist for perusal.
You will be contacted to have your complaint addressed.
Kind Regards
Kind Regards
Client Value Management
Motor Finance Corporation's reply24 Aug 2020, 13:29
Official
Dear Mrs. Margerstein
We acknowledge receipt of your complaint posted on Hello Peter.
Your complaint has been assigned to a service resolution specialist for perusal.
You will be contacted to have your complaint addressed.
Kind Regards
Kind Regards
Client Value Management
sS
salome S's updateReviewer Update
26 Aug 2020, 15:02What a SHOCKING experience !!!
I was called by a ROBIN GEDULD yesterday, who was supposed to "resolve" this matter. Instead the UNPROFESSIONAL and SELF-RIGHTEOUS attitude of this female staff member did NOTHING to defuse my ANGER towards MFC for SLANDERING and DEFAMING my GOOD NAME in a PUBLIC writing to third parties.
When I voiced my UTTER DISGUST with MFC for sending out such a statement loaded with FALSE and MALIGNANT lies, I was told "ARE WE NOW GOING TO GO INTO THAT AGAIN OR ARE WE GOING TO ...." the rest I did not hear as ROBIN GEDULD then just cut the call. This RUDE and UNPROFESSIONAL treatment is NOT ACCEPTABLE !!!
I DEMAND A WRITTEN reply to my complaint.
ALSO – with regards to the MFC vehicle finance : ***
Due to the SPITEFUL and *********** decisions taken by the ANC Government, being SELF-EMPLOYED, we have lost at least 80% of our income. Financial recovery is NOT INSTANT ! It will take South Africans at least 12 to 24 months to recover from the SICKENING effects the lockdown has on ALL of us. The financial LOSSES we incurred is IMMENSELY DEVASTATING !!!
My previous vehicle finance (*** - KIA SPORTAGE), which was settled in DECEMBER 2016 was on a FIXED percentage interest of 11.50%. I have NEVER defaulted on that loan and NEVER asked for any kind of relief. But when I app**** for finance again in JANUARY 2017 (not even a month later), I was BUL**** into accepting a FIXED percentage interest rate of 14.00% or else I would NOT HAVE BEEN GRANTED the finance, dispite being informed by mr LOUIS MASILO that my application was APPROVED AT an interest rate of 12.00%, I had to RE-SUBMIT my application from START ! After NUMEROUS complaints and due to me being in a FRUSTRATINGLY desperate situation, being IN NEED OF TRANSPORT for my work, I was FORCED to accept those terms.
From 11.50% to 14.00% (and ADDITIONAL 2.50%) adds up to a HUMONGOUS amount over a period of 6 years !!! THAT is how MFC awards FAITHFUL clients !!!
On 16 APRIL 2020, I have requested MFC to RESTRUCTURE my loan. Taking into account that the repo rate at that stage was only 4.25% and my MFC Finance on a FIXED percentage interest of 14.00%. I have already made 2.5 years of FULL payments. NEVER defaulted on a single payment. ALWAYS on time. In reply to this request, I received a call from an MFC staff member who just informed me : “YOUR CASE WAS REVIEWED AND SORRY BUT WE CANNOT RESTRUCTURE YOUR FINANCE. YOU CAN APPLY FOR 3 MONTHS OF RELIEF DUE TO THE COVID LOCKDOWN. THAT’S ALL MFC CAN OFFER YOU.”
I then, KNOWING that I will end up not being able to afford my vehicle for much longer, due to the HUGE loss of income, app**** for DEBT REVIEW with CREDITSMART, but due to that company’s SLY and DISHONEST conduct displayed during the application, I have decided NOT to sign up with them. Upon receiving MFC’s notice that they will reply to the FORM 17.W All lodged by CREDITSMART, I IMMEDIATELY notified MFC that they MUST NOT PROCEED WITH THE APPLICATION AS WE WITHDREW DUE TO THEIR UNACCEPTABLE CONDUCT. However, on 24 AUGUST 2020, I received the letter sent to CREDITSMART stating the following : “As the client’s account remains in default without just cause, we hereby give notice of our intention to immediately enforce our rights in terms of our agreement /facility with the client in accordance with the provisions of the National Credit Act .”
I have in the meantime app**** with 2 FINANCE (LOAN) companies in order to RECONCILE all our debt and paying only ONE source. These companies came back to me, APPLICATION : UNSUCCESSFUL and referred to the NOTICE SENT TO CREDITSMART on 24 AUGUST 2020 by MFC Collections and Recoveries - Up To Date Contact Number: ***, as the reason for the unsuccessful application. In other words, I was declined as I am being LABELLED as a NON-PAYER.
MFC – YOU FALSELY ACCUSED ME OF BEING A NON-PAYER, WILFULLY SLANDERED MY GOOD NAME, CAUSING ME NOT TO BE ABLE TO OBTAIN FINANCIAL ASSISTANCE, and now REFUSE to do the right thing. I expect a PROPER and ACCEPTABLE resolution to this matter NOT LATER THAN FRIDAY, 28 AUGUST 2020 14:00, or I WILL TAKE MY CASE TO THE OMBUDSMAN.
sS
salome S's update26 Aug 2020, 15:02
Reviewer Update
What a SHOCKING experience !!!
I was called by a ROBIN GEDULD yesterday, who was supposed to "resolve" this matter. Instead the UNPROFESSIONAL and SELF-RIGHTEOUS attitude of this female staff member did NOTHING to defuse my ANGER towards MFC for SLANDERING and DEFAMING my GOOD NAME in a PUBLIC writing to third parties.
When I voiced my UTTER DISGUST with MFC for sending out such a statement loaded with FALSE and MALIGNANT lies, I was told "ARE WE NOW GOING TO GO INTO THAT AGAIN OR ARE WE GOING TO ...." the rest I did not hear as ROBIN GEDULD then just cut the call. This RUDE and UNPROFESSIONAL treatment is NOT ACCEPTABLE !!!
I DEMAND A WRITTEN reply to my complaint.
ALSO – with regards to the MFC vehicle finance : ***
Due to the SPITEFUL and *********** decisions taken by the ANC Government, being SELF-EMPLOYED, we have lost at least 80% of our income. Financial recovery is NOT INSTANT ! It will take South Africans at least 12 to 24 months to recover from the SICKENING effects the lockdown has on ALL of us. The financial LOSSES we incurred is IMMENSELY DEVASTATING !!!
My previous vehicle finance (*** - KIA SPORTAGE), which was settled in DECEMBER 2016 was on a FIXED percentage interest of 11.50%. I have NEVER defaulted on that loan and NEVER asked for any kind of relief. But when I app**** for finance again in JANUARY 2017 (not even a month later), I was BUL**** into accepting a FIXED percentage interest rate of 14.00% or else I would NOT HAVE BEEN GRANTED the finance, dispite being informed by mr LOUIS MASILO that my application was APPROVED AT an interest rate of 12.00%, I had to RE-SUBMIT my application from START ! After NUMEROUS complaints and due to me being in a FRUSTRATINGLY desperate situation, being IN NEED OF TRANSPORT for my work, I was FORCED to accept those terms.
From 11.50% to 14.00% (and ADDITIONAL 2.50%) adds up to a HUMONGOUS amount over a period of 6 years !!! THAT is how MFC awards FAITHFUL clients !!!
On 16 APRIL 2020, I have requested MFC to RESTRUCTURE my loan. Taking into account that the repo rate at that stage was only 4.25% and my MFC Finance on a FIXED percentage interest of 14.00%. I have already made 2.5 years of FULL payments. NEVER defaulted on a single payment. ALWAYS on time. In reply to this request, I received a call from an MFC staff member who just informed me : “YOUR CASE WAS REVIEWED AND SORRY BUT WE CANNOT RESTRUCTURE YOUR FINANCE. YOU CAN APPLY FOR 3 MONTHS OF RELIEF DUE TO THE COVID LOCKDOWN. THAT’S ALL MFC CAN OFFER YOU.”
I then, KNOWING that I will end up not being able to afford my vehicle for much longer, due to the HUGE loss of income, app**** for DEBT REVIEW with CREDITSMART, but due to that company’s SLY and DISHONEST conduct displayed during the application, I have decided NOT to sign up with them. Upon receiving MFC’s notice that they will reply to the FORM 17.W All lodged by CREDITSMART, I IMMEDIATELY notified MFC that they MUST NOT PROCEED WITH THE APPLICATION AS WE WITHDREW DUE TO THEIR UNACCEPTABLE CONDUCT. However, on 24 AUGUST 2020, I received the letter sent to CREDITSMART stating the following : “As the client’s account remains in default without just cause, we hereby give notice of our intention to immediately enforce our rights in terms of our agreement /facility with the client in accordance with the provisions of the National Credit Act .”
I have in the meantime app**** with 2 FINANCE (LOAN) companies in order to RECONCILE all our debt and paying only ONE source. These companies came back to me, APPLICATION : UNSUCCESSFUL and referred to the NOTICE SENT TO CREDITSMART on 24 AUGUST 2020 by MFC Collections and Recoveries - Up To Date Contact Number: ***, as the reason for the unsuccessful application. In other words, I was declined as I am being LABELLED as a NON-PAYER.
MFC – YOU FALSELY ACCUSED ME OF BEING A NON-PAYER, WILFULLY SLANDERED MY GOOD NAME, CAUSING ME NOT TO BE ABLE TO OBTAIN FINANCIAL ASSISTANCE, and now REFUSE to do the right thing. I expect a PROPER and ACCEPTABLE resolution to this matter NOT LATER THAN FRIDAY, 28 AUGUST 2020 14:00, or I WILL TAKE MY CASE TO THE OMBUDSMAN.
sS
salome S's updateReviewer Update
26 Aug 2020, 15:12CORRECTION :
>>> I have already made 2.5 years of FULL payments. <<<
>>> I have already made 2.5 years of FULL payments. <<<
SHOULD READ :
>>> I have already made 3.5 years of FULL payments. (From February 2017 to date) <<<
sS
salome S's update26 Aug 2020, 15:12
Reviewer Update
CORRECTION :
>>> I have already made 2.5 years of FULL payments. <<<
>>> I have already made 2.5 years of FULL payments. <<<
SHOULD READ :
>>> I have already made 3.5 years of FULL payments. (From February 2017 to date) <<<
Motor Finance Corporation's replyOfficial
26 Aug 2020, 15:26Dear Mrs. Margerstein
We acknowledge receipt of your complaint posted on Hello Peter.
Your complaint has been assigned to a service resolution specialist for perusal.
You will be contacted to have your complaint addressed.
Kind Regards
Client Value Management
Motor Finance Corporation's reply26 Aug 2020, 15:26
Official
Dear Mrs. Margerstein
We acknowledge receipt of your complaint posted on Hello Peter.
Your complaint has been assigned to a service resolution specialist for perusal.
You will be contacted to have your complaint addressed.
Kind Regards
Client Value Management