1 reviews | Active since Oct 2017
left me with so much more debt and no answers
almost 2 years ago i started with debt review with them. decided to cancel due to able of paying on my own again. my car was owing R59000 when i started. asked for a settlement today and i owe the bank R89000. they are such a ***** company can anyone help with this.
Dear Shaun,
With reference to your comment, please take not of the following.
If you have done your research on us and the debt review process you would have found that No More Debt have been in business for 6.5 years already, all our audits with the National Credit Regulator were 100% in order and correct and that all regulations are followed on each of our applicants. As a Debt Counselling company, we are comp**** to adhere to each and every regulation under the National Credit Act.
Your COB balance on your vehicle obtained on 24/03/2015 was R51714.53
Your original vehicle instalment was R2161.89
The bank accepted a new repayment of R1031.27 + R482.05 insurance @ 15% over 78 months.
You will note that your repayment period increased due to your repayment toward your vehicle being half of what was originally paid. This means that during the first few years, almost no capital will be covered as the instalment will only cover interest and fees, only after unsecured debt have been settled would your vehicle balance reduce.
Further to this, you defaulted on payments during July 2015, November 2015 and January 2016. All these missed payments added more interest and fees toward your outstanding balance.
Please do not call us **********, as this is completely inappropriate and unnecessary. If you have actually gotten the facts, you would have noted the above and not had to post this comment.
I hereby please request that you remove any bad reviews about No More Debt as it is false and inappropriate.
Dear Shaun,
With reference to your comment, please take not of the following.
If you have done your research on us and the debt review process you would have found that No More Debt have been in business for 6.5 years already, all our audits with the National Credit Regulator were 100% in order and correct and that all regulations are followed on each of our applicants. As a Debt Counselling company, we are comp**** to adhere to each and every regulation under the National Credit Act.
Your COB balance on your vehicle obtained on 24/03/2015 was R51714.53
Your original vehicle instalment was R2161.89
The bank accepted a new repayment of R1031.27 + R482.05 insurance @ 15% over 78 months.
You will note that your repayment period increased due to your repayment toward your vehicle being half of what was originally paid. This means that during the first few years, almost no capital will be covered as the instalment will only cover interest and fees, only after unsecured debt have been settled would your vehicle balance reduce.
Further to this, you defaulted on payments during July 2015, November 2015 and January 2016. All these missed payments added more interest and fees toward your outstanding balance.
Please do not call us **********, as this is completely inappropriate and unnecessary. If you have actually gotten the facts, you would have noted the above and not had to post this comment.
I hereby please request that you remove any bad reviews about No More Debt as it is false and inappropriate.