1 reviews | Active since May 2019
Phophoza finance loan scandal
I went on to taking a loan with the above mentioned company, the consultant there had advised me that I needed to make an admin payment of R650 to process my loan application as it has been approved. Which obviously I had done. The next day I received an email stating I need to pay in Another R1200 for the insurance as it it mandatory for the loan to be process, which I had done as well. I was then told the same day in the afternoon I need to make another R1450 for a tax clearance, again desperate for the money I had done that as well. I was also told this was the last payment needed for the money to reflect in my account. On Saturday morning I was told to make an immediate payment of R1100 for the remittance policy and within 30minutes of doing so.the money will reflect in my account. Again desperate I did that as well. These guys sent me a guarantee letter stating this is the final amount needed for the loan to be processed. They even went on to say they released the money I just got to wait for it to reflect in my account. Doing that I waited. Till this morning, I then received another mail stating I need to pay in R1550 more to have the money released. I have all emails, correspondence, and call recordings. I went on to actually borrowing money from loan sharks to provide the necessary payments. Guys I don't wAnt anyone else getting caught up in a **** like this. Be wary
