Asked by the Customer on 06-06-2016 16:31:52
Question posted in the National Credit Act Law category relating to Western Cape
Question posted in the National Credit Act Law category relating to Western Cape
Hi,
I have had loan account with Capitec Bank since 2011 and due to losing my job I was unable to meet my commitments to them. I was then handed over in late 2012 whereby an agreement was reached by June 2013 for me to pay a sum I could afford. I paid from 2013 until December 2014, whereby I had a change in Jobs and could not afford the instalment again. I have recently requested a statement of account and have found that I have paid over R 22000 thus far but collection commission get charged at 11.4% of the amount I am paying and then a further interest gets charges and also telephone call at R 57.00 a time some times 4x a day. I do not request for them to call me so why do I get billed for them calling me and why call me. I have now discoverred all the funds I have paid over to them has not even touched my original amount, infact it has increased to more than that now, so my question is.
How do I get out of debt if all my creditors are increasing my debt every chance they get. Obviously when I acquired the consolidation loan I was able to pay it with ease and some months even paid more. Capitec has charged me interest, attorneys charged me interest with collection cost and telephones call. This is crazy, I am paying them them to chase me for money.
Please advise if there is any legal footing for me to start paying this account and clearing it without the excessive charges they are adding to it.
Regards
Gavin
I have had loan account with Capitec Bank since 2011 and due to losing my job I was unable to meet my commitments to them. I was then handed over in late 2012 whereby an agreement was reached by June 2013 for me to pay a sum I could afford. I paid from 2013 until December 2014, whereby I had a change in Jobs and could not afford the instalment again. I have recently requested a statement of account and have found that I have paid over R 22000 thus far but collection commission get charged at 11.4% of the amount I am paying and then a further interest gets charges and also telephone call at R 57.00 a time some times 4x a day. I do not request for them to call me so why do I get billed for them calling me and why call me. I have now discoverred all the funds I have paid over to them has not even touched my original amount, infact it has increased to more than that now, so my question is.
How do I get out of debt if all my creditors are increasing my debt every chance they get. Obviously when I acquired the consolidation loan I was able to pay it with ease and some months even paid more. Capitec has charged me interest, attorneys charged me interest with collection cost and telephones call. This is crazy, I am paying them them to chase me for money.
Please advise if there is any legal footing for me to start paying this account and clearing it without the excessive charges they are adding to it.
Regards
Gavin
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