I am desperately in need of your advice ...

Asked by Dikeledi on 19-08-2021 06:45:55
Question posted in the National Credit Act Law category relating to Gauteng

I am desperately in need of your advice I have tried my best to question the  repayment term on my personal loan account with my credit provider (Stand bank) however I have not received any feedback, I have sent several emails with no luck.

In 2013 I was invited to get Customer Assistance from Stand bank and the product now is called Advance Personal Loan and  the initially loan if I am not mistaken was around R224 000 on a fixed interest for 10 year period  on  monthly instalment of R3 3395.93 not certain  how much was interest rate on inception.  As years goes by  I realize that what was offered works exactly like consolidation loan,  after 5 years of agreeably honouring my instalment amount I started sending emails to ***BLOCKED-EMAIL-ADDRESS*** to query the reason for a long repayment term no response was received I feel that if it was affordability issue for imposing such long time repayment it is obvious that it was reckless lending.

 I feel that I am unfairly treated and the repayment term in place is ridiculous and unjust.  Kindly requesting advice as to how this can be corrected.  Unfortunately, my credit provider is struggling to give me the credit contract because I have login a request for the contract on the 28 July till today they can’t find it from Metro File.

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