Very upset client.

I have opened a loan account at old mutual in December last year and already paid more than R20 000, loan opening balance amounted to R128 000 and the outstanding balance is not going down, I have called the call centre yesterday to lay a complaint, I was told the manager was not in, however she will call me back as soon as she arrive back, I am still awaiting her call till now. Call centre agent that I spoke with explained to me that interest are calculated on outstanding balance regardless of my recurring payments and I will be able to see my balance going down after 2 years, something that I was never explained up opening a loan account at pinelands branch. I am very confused about how old mutual is calculating loan interest and I would very glad if I could get more clarity. I had a loan account before with Capitec bank of the same amount the repayment structure is different to the old mutual one and I think old mutual is *********** client, had I knew that it will take more than 2 years to see the loan balance depreciating or explained from the outset I would not have taken the loan account with old mutual, I am also not defaulting any repayments.