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I am under debt review and want to know what happend to the baloon payment on my car?

Questions & AnswersCategory: Debt ReviewI am under debt review and want to know what happend to the baloon payment on my car?
Anonymous asked 4 years ago

Hi.

I am under debt review and paying well. However, I like to know as to what happened to the balloon payment I took when I bought the car as my recent statement from Nedbank does not indicate or reflect that? When I asked Nedbank, they indicated to me that the payment was based on the balance as at the time of the application. Does it mean that it will kick-in later after paying the balance? My statement reflects the balance as per my payment plan.
On another matter, while under debt review, I was offered credit facilities by two telecommunications companies in RSA, which I think I was not supposed to have received. I think one was taken for a ride as I now owe them. With one service provider, I had an existing cell phone and they gave me another one with credit. What recourse do I have.I think of exposing the companies for enticing me into debt, as some consumers are perhaps prey to this malpractice.