System and processes failure.

I’m 2016 I bought a car financed through VWFS by WesBank, in June 2018 this year my car got written off. The insurance company paid what was due to them; unfortunately I had insured it on market value (bad idea). The difference was however covered (not entirely also) by IUA (think it’s Holland) which is a shortfall cover.

After the shortfall was paid, I still got applications for a new vehicle declined, reasons being my ITC was reflecting an outstanding amount which is was still high making it almost impossible for me to be able to acquire a new vehicle. I did eventually get WesBank to update my credit status with the ITC even though it was an uphill climb, being told of lengthy periods of time for ITC to update consumers’ credit status.

I have recently got back to applying for finance again, still declining. Now the issue is that; I didn’t conduct my loan transaction period positively, because before my insurance made their payment to the bank, they had debited my installment which I decided to reverse four days after, not to mention that insurance made their payment three days before which was informed by the settlement letter they had been given by the finance company, which had included that installment at the time the insurance requested it.

I find it absurd how the payment from my insurance is not considered a payment from me the consumer, it’s essentially an extension of the consumer in this regard. Now they have tagged me as a bad creditor.