On 31 December I lost my job as a Project Manager in Mogale City Local Municipality; albeit earlier in the year, there was an undertaking that my contract will be renewed. I informed Nedbank accordingly that I would not be able to make repayments on my loan account as stated below, provided documentary proof and enquired if the insurance I was paying would settle. I was told that the insurance did not cover me as I was on a contract, and that it covered retrenchments only. Since then I never got a job to date, but because they were threatening to institute a judgement in court against me (even though they new I was not working); I then made an arrangement to make repayments of R500 after they complained about the R100 they advised that I must at least pay to avoid dire consequences. With the help of my family I made another arrangement of R500 which I haven't defaulted on into Nedbank account 1456008870. WHAT I WANNA KNOW IS "WHY THE INSURANCE DID NOT SETTLE MY LOAN ACCOUNT"? According to me, my account was supposed to have been settled in January after I informed Nedbank of my situation and provided documentary proof to that effect.
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