I took and insurance out and cancelled it. They kept taking money in the middle of the month. As my debit orders were returned, this has caused my credit rating to be affected when applying for a loan. Can the insurance company – Momentum – correct this with the bank by some form of a letter? I had notified my broker to cancel as well as Momentum, yet they continued to try again
Thank you for getting in touch.
You can lodge a complaint with the Credit Ombud. Here is a link to their page explaining the complaint procedure: http://www.creditombud.org.za/complaints-process/
You can also ask the insurance company to remove the data if it was placed on the credit bureaus incorrectly. If they do not want to adjust incorrect data, you can lodge a dispute with the relevant credit bureau. They must then give you feedback within 30 days. If the information was found to be faulty they must remove it.
Hope this info helps.