CK
Claudette K

1 reviews | Active since Mar 2020

05 Mar 2020, 13:14

Disapppointed in a trusted well known financial services company

in 2014 i contacted old mutual to advise due to fnancial difficulties i am going to go under debt review and would like to know there process, in this time i had sent my info to the then debt counsellor who then inturn sends forms to the creditors advising of the debt review application etc i transfered from one debt counsellor to the other and trusted that these debt counsellors will keep paying my accounts. Long story short they didnt pay creditors , now at this time i was dealing with 2 agents , the lady advised me on email that it isnt a good idea to go under debt review and bascially convinced me to take out this section 58 but i would get a registered letter with a section 129 letter which by the time i could get out to the post office then old mutual said sorry it is to late to take that up you will now have to go to the section 58 but nothing will go on your itc profile as it is only for when i dont make payment and again I agreed. They then told me they will update my credit profile with bureaus as well after they received the signed agreement. Few months down the line i check my itc report and lo and behold the judgement is loaded on transunion. when i email the people who assisted me then i was sent to someone new who then just told me im sorry thats what you signed for so that you must accept it. No that is wrong. I then asked why is my balance so high still and she said because after not receiving some payments in 2016 interest was charged back but I signed the agreement in April 2014 and ever since then OMF has been debiting my account so how did i not pay? I have all my email correspondence since the beginning ans what i was promised will place never did and now the new person is speaking to me like im a small child not listening to them. This is wrong what you've done and i want the interest charged to me since i have been paying credited back on the outstanding balance. I have not missed payments it was not my fault as once again I have emails from OMF acknowledging that it was not my fault. My ITC says missed payments every month mack my credit score look bad however OMF is debiting my account all a long. I want the judgement removed from Transunion as this was advised in 2014 will only take affect if i dont make payments. Since 2014 to now i have paid monthly and increase from R1500 which the agreed amount to R1600. I know the new agent came back to advise they will stop interest as of this month but that sounds like im being cheated. I will be lodging a complaint with the credit ombudsman too to look into this matter.

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Replies (1)
Old Mutual
Old Mutual's reply05 Mar 2020, 15:28
Official
Dear Claudette Kazi

I acknowledge receipt of your complaint. 
This matter will be referred to Old Mutual Finance for investigation. One of their consultants will be in contact with you directly to assist you with resolving  your complaint.

Regards

Kareemah Sulayman
Old Mutual Complaints Management