BB
Bryan B
1 reviews | Active since May 2021
18 Jun 2025, 13:08
Bad service
They want R750 admin fee then you get 5 declined sms this is after they pre approved you, then they say they can assist with you dent repayments but theybwant an admin fee of R2000, found these people a complete ripoff and useless, my experience is not to deal with them
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Spotaloan.co.za's replyOfficial
20 Jun 2025, 13:56Bryan B, the first part of the review we have addressed, let's look now at where and how the admin fee that you are referring to fits in.
After your total decline, we send you a detailed consumer report and action plan. The R2000 fee you are referring to falls under Debt Fix and this is how it works:
1. We assess your credit profile and financial situation.
2. A new repayment plan is created to ensure you can afford both living expenses and debt repayments.
3. Payments are managed for 4-6 months, then you take full control.
4. We implement our Credit Fix program to rebuild your credit score while paying off debt.
The admin fee you are referring to is a standard rate used in the debt restructuring industry and it is normally a percentage of your total debt repayment installment.
So we must clearly define between subscription fee for services rendered under the Spot A Loan process and fee under the Debt Fix process as per your review.
Kind regards
Joe @ Spot A Loan
After your total decline, we send you a detailed consumer report and action plan. The R2000 fee you are referring to falls under Debt Fix and this is how it works:
1. We assess your credit profile and financial situation.
2. A new repayment plan is created to ensure you can afford both living expenses and debt repayments.
3. Payments are managed for 4-6 months, then you take full control.
4. We implement our Credit Fix program to rebuild your credit score while paying off debt.
The admin fee you are referring to is a standard rate used in the debt restructuring industry and it is normally a percentage of your total debt repayment installment.
So we must clearly define between subscription fee for services rendered under the Spot A Loan process and fee under the Debt Fix process as per your review.
Kind regards
Joe @ Spot A Loan
Spotaloan.co.za's reply20 Jun 2025, 13:56
Official
Bryan B, the first part of the review we have addressed, let's look now at where and how the admin fee that you are referring to fits in.
After your total decline, we send you a detailed consumer report and action plan. The R2000 fee you are referring to falls under Debt Fix and this is how it works:
1. We assess your credit profile and financial situation.
2. A new repayment plan is created to ensure you can afford both living expenses and debt repayments.
3. Payments are managed for 4-6 months, then you take full control.
4. We implement our Credit Fix program to rebuild your credit score while paying off debt.
The admin fee you are referring to is a standard rate used in the debt restructuring industry and it is normally a percentage of your total debt repayment installment.
So we must clearly define between subscription fee for services rendered under the Spot A Loan process and fee under the Debt Fix process as per your review.
Kind regards
Joe @ Spot A Loan
After your total decline, we send you a detailed consumer report and action plan. The R2000 fee you are referring to falls under Debt Fix and this is how it works:
1. We assess your credit profile and financial situation.
2. A new repayment plan is created to ensure you can afford both living expenses and debt repayments.
3. Payments are managed for 4-6 months, then you take full control.
4. We implement our Credit Fix program to rebuild your credit score while paying off debt.
The admin fee you are referring to is a standard rate used in the debt restructuring industry and it is normally a percentage of your total debt repayment installment.
So we must clearly define between subscription fee for services rendered under the Spot A Loan process and fee under the Debt Fix process as per your review.
Kind regards
Joe @ Spot A Loan