Odd in­ter­est fluc­tu­a­tions

The Star Early Edition - - NEWS - Within the re­quired loan term, with no ad­di­tional in­ter­est or costs. “Should the con­sumer skip pay­ments or short pay on the ac­count, or the ac­count gets handed over for col­lec­tions, this will af­fect the bal­ance out­stand­ing on the ac­count and may re­sult in

IN 2014, I took a R30 000 loan from African Bank.

I’ve been pay­ing R1 414.79 monthly since Jan­uary of that year.

About a year ago, I phoned them to en­quire about the bal­ance and they told me it was R14 000.

I phoned again last month and they told me it was R11 000. To­day I called and the lady told me it was R10 000.

I was shocked and we got into an ar­gu­ment. Then she changed it again back to R14 000.

Please in­ter­vene be­cause there is no way I could pay 170% in­ter­est. T Tin­gani

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