RCP Loan deception

<p>A few months ago i app**** for a RCP loan from Standard Bank and was told that the repayments would be done automatically for the minimum repayment amount.</p> <p> </p> <p>I was also told this amount could be increased at any time using the internet banking platform.</p> <p> </p> <p>After about a year i get a call that the account is in arrears and upon investigating i discover that the debit orders have not been occuring and the account has been handed over to a collection agent.</p> <p> </p> <p>Please see below except from their website regarding RCP loans :</p> <p> </p> <p>Fixed minimum monthly repayments.</p> <p>Your minimum monthly repayments remain fixed for the lifetime of the loan, even if the prime interest rate changes. This will allow you to budget more effectively. For your convenience, the repayments are recovered from your transaction account via a debit order.</p> <p>No forms. No fuss </p> <p> </p> <p>No Forms , No Fuss!!!..</p> <p> </p> <p>I am astounded at their negligence and dishonesty. Need i say more?</p> <p> </p> <p>Now i am liable for a lot more interest than budgetted for and even after numerous attempts I am still unable to get a statement or arrange a payment. </p> <p> </p> <p>Also my credit record is now got a black spot all due to the almost ******** negligence on the part of standard bank.</p> <p> </p> <p>Needless to say i will now probably have to take legal remedial action or live with the consequences of standard bank`s onerous actions.</p>