Client discovers true cost of taking 6-month payment holiday

The DirectAxis client took the matter up with consumer journalist Wendy Knowler after she found out that her short telephone conversation with the telemarketer had cost her an extra 20 months on her loan term.

Picture: Pexels

JOHANNESBURG - A DirectAxis client has discovered that the true cost of taking a six-month holiday payment during the coronavirus pandemic trapped her into extending her loan term by 20 months.

The client took the matter up with consumer journalist Wendy Knowler after she found out that her short telephone conversation with the telemarketer had cost her an extra 20 months.

Knowler contacted the financial services provider to find out if the correct process was followed and explains the pitfalls of the payment holiday.

LISTEN: The true cost of taking a payment holiday revealed

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