SG
Shabnam G
1 reviews | Active since Jul 2009
02 Dec 2015, 09:05
They add on charges and give incorrect balances
I have been following up with my account and these people are just really confused and unhelpful after speaking to 3 different people I cannot understand how I start paying a debt at R10247 .R3500 later I am still owing R9600.There are unneccessary charges and then after checking this theres amounts that were just added on as debits,Everything the debt was brought down to R8000 it was added on to and taken back to R9600 IS THIS TREATING THE CUSTOMER FAIRLY ?Why would Standard Bank use a company who just adds on Debt to a person who is trying to pay off.I am tired of calling ,holding on for minutes and sometimes after 6 minutes I have to cut the call,They service really.
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Norton Lambrianos Attorneys's replyOfficial
02 Dec 2015, 09:29Hello ramzans,
Dear Madam,
Thank you for your query lodged on Hello Peter.com.
Kindly note that compounded interest is charged on most credit products, and therefore it is essential that you pay a minimum of 10% or more as instalment to reduce the Capital / Balance outstanding.
As example should you have a R10 000.00 debt outstanding, a R100 monthly payment will not reduce the balance as the interest accrued monthly is far greater, and in turn increases the balance.
We hope this information would assist you in making a more informed repayment decision which we happy to discuss.
Best Regards,
Norton-Lambrianos Attorneys
Dear Madam,
Thank you for your query lodged on Hello Peter.com.
Kindly note that compounded interest is charged on most credit products, and therefore it is essential that you pay a minimum of 10% or more as instalment to reduce the Capital / Balance outstanding.
As example should you have a R10 000.00 debt outstanding, a R100 monthly payment will not reduce the balance as the interest accrued monthly is far greater, and in turn increases the balance.
We hope this information would assist you in making a more informed repayment decision which we happy to discuss.
Best Regards,
Norton-Lambrianos Attorneys
Norton Lambrianos Attorneys's reply02 Dec 2015, 09:29
Official
Hello ramzans,
Dear Madam,
Thank you for your query lodged on Hello Peter.com.
Kindly note that compounded interest is charged on most credit products, and therefore it is essential that you pay a minimum of 10% or more as instalment to reduce the Capital / Balance outstanding.
As example should you have a R10 000.00 debt outstanding, a R100 monthly payment will not reduce the balance as the interest accrued monthly is far greater, and in turn increases the balance.
We hope this information would assist you in making a more informed repayment decision which we happy to discuss.
Best Regards,
Norton-Lambrianos Attorneys
Dear Madam,
Thank you for your query lodged on Hello Peter.com.
Kindly note that compounded interest is charged on most credit products, and therefore it is essential that you pay a minimum of 10% or more as instalment to reduce the Capital / Balance outstanding.
As example should you have a R10 000.00 debt outstanding, a R100 monthly payment will not reduce the balance as the interest accrued monthly is far greater, and in turn increases the balance.
We hope this information would assist you in making a more informed repayment decision which we happy to discuss.
Best Regards,
Norton-Lambrianos Attorneys