Direct Axis / settlement amount

cape town, South Africa

Good Day

I want to settle my Direct Axis loan and requested a settlement letter. The original amount was R133, 197.00 and this was taken out in October 2016. To my surprise I look ed at a settlement letter offered a year ago and the amount was R128, 732.20. I requested one again today and the amount is R112, 166.16, keeping in mind that my installment is 4853 per month. Since last year April to date I paid R58, 236.00 in installments and my debt was only reduced by about R16 000 since my last settlement letter request. Ho can this be, other credit providers settlement actually shows it smaller by quite a percentage when one settle early? Someone please explain before I forward my complaint to the NCR.

May 10, 2018

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