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Paid-Up Debt Issue

anonymous asked 1 year ago


I had an account with Izwe Loans. I defaulted on my payments and the accounts were handed over for collection. I made an arrangement for a smaller monthly payment plan.

I started paying the accounts but a year later when I asked for statements I got a shock of my life. The accounts were increasing on a monthly basis instead of decreasing. It was as if they are not being serviced. When I contacted the recovery company, they told me that Izwe Loans was still giving them monthly instructions on adjusting the interests on the account. My accounts appeared on ITC as no payments were made. My credit history is bad.

Last year I decided to settle and was given paid up letters. The accounts were updated to paid-up on ITC but it’s still as bad.

I also had an account with Homechoice which I paid-up at the recovery company. I also got a paid-up letter and lucky for me the account was removed from ITC. It was gone. To my surprise, I get a call from a different company demanding the recovery of the debt owed to Homechoice. When I contacted the company they were so rude they just dismissed me and told me to deal with the recovery people since they have handed me and don’t have my file. I was literally ordered to pay or else…I contacted the new company and forwarded all my documents, the lady promised to come back to me as soon as she has contacted Homechoice. That never happened and then I was contacted by another consultant from the same company and I went through the same process, she also promised to update after consultation, and then nada!

Yesterday I got an email, they are going to list me within 24 hours and guess what, the case is now been handled by another consultant from the same company.

What can I do? I can’t be paying the same debt to a different company now. I feel robbed and abused here.

Pls: advice me on this two accounts I am at my end here. I can’t even get credit and all am told is my credit history is bad (Caused by IZWE LOANS).

I contacted lawyers at Legalwise who handed the case over to NCR, NCR dismissed my case. In their report, they indicated that they contacted IZWE and they were told that I had settled the account and received paid up letters. I felt so betrayed by those guys. They never contacted me. Spoke to the company about paid-up letters, which was never any issue.

I just decided to walk away from them because they clearly never represented me. it was not about me.

Please, I need HELP!!!

1 Answers
Matthys Potgieter Staff answered 1 year ago

Hi there,

Thank you for getting in touch.

The Credit Ombud might be a solution. Before you go to the Credit Ombud though, you need to make sure that you have proof of correspondence etc. which will assist the Credit Ombud in their investigation.

Ask all of the parties involved for a Statement of Account and do so in writing. Ask Home Choice and Izwe Loans to confirm the status of your account in writing.

If they respond with a paid-up letter, you can use that letter to dispute the information on the credit bureaus. You have a right to dispute information displayed on the credit bureaus.

If the credit providers indicate that you still owe them money, you would need to confirm where you need to reflect the payment. Also, get all of this in writing. If things still look wrong to you, take all the correspondence and contact the Credit Ombud.

Here is a link to the Credit Ombud.

Kind regards