1 reviews | Active since Dec 2018
Unfair claim payments.
When I got retrenched in June 2020, I submitted 2 claims for retrenchment, for my credit card and for my term loan. The bank processed the first 6 months lumpsum payments on both loans. Later on in January, I submitted a second claim as per their instructions that if I am not employed after 6 months, I should send in an affidavit which i did.
They have recently paid. (I will use random figures for confidenciality purposes to explain my frustration.) On the credit card,for first six months, they paid R10000, and the term loan, they paid R20000. So I thought the next six month will be paid the equivalent amount which was paid the first time on both loans. So they when I got an sms that the claims have been processed, I check on the credit card claim, they paid another R10000 and the remainder on the credit card is R2500 which is fair enough since they paid the same amount the first 6 months and for the next six months and a day later, I get another sms that the term loan has been processed as well. When I check on the term loan, they paid R8000 and the remainder is R16000...
My confusion and frustration is that why did they pay the same amount on the credit card and not the same amount on the term loan. I would understand if on both they paid the same amount than what was paid the first time. I am only querying this because I see it unfair. The term loan should also have been paid the same amount as the first time. It's not like they were not receiving their month premiums which they will continue as the term loans and credit cards are still outstanding. All I ask is that they should show pay out a claim fairly and pay out the difference which is short on my term loan.
