Incorrect calculation on instalment due
<p>This is the third time that Truworths gets my instalment wrong. It seems like robbing people off their money has become a norm. They just don't know that the instalment due should be calculated on the amount due divide by either 6 or 12months. I received an sms stating that my instalment for end April is R4400 on an outstanding balance of R8000 and my payment plan is over 6months to save on interest.. One still needs to call and query the instalment which is soo wrong</p>
Thank you for your post and allowing us the opportunity to respond.
According to our records, the instalment on your account was calculated on the balance owing as at the date of your last purchase on the account in December 2016. The instalment is calculated over the applicable payment plan and will remain constant for the duration of the repayment period, provided that the account balance does not increase during this time. If the instalment amount were to be reduced, then the balance would be paid over a longer period than contractually agreed to.
This being said, we acknowledge that you contact us on 13 April 2017 and our consultant was able to resolve this matter for you.
We value your feedback and trust that we were able to clarify your concerns in this regard. Please feel free to contact us on *** or via email to ***.
Kind regards,
Truworths Online Team
Thank you for your post and allowing us the opportunity to respond.
According to our records, the instalment on your account was calculated on the balance owing as at the date of your last purchase on the account in December 2016. The instalment is calculated over the applicable payment plan and will remain constant for the duration of the repayment period, provided that the account balance does not increase during this time. If the instalment amount were to be reduced, then the balance would be paid over a longer period than contractually agreed to.
This being said, we acknowledge that you contact us on 13 April 2017 and our consultant was able to resolve this matter for you.
We value your feedback and trust that we were able to clarify your concerns in this regard. Please feel free to contact us on *** or via email to ***.
Kind regards,
Truworths Online Team