Capital Data Take Over Older Sanlam Personal Loans
Over the past few years, outsourced debt review service provider Consumer Friend have been handling debt review matters on Sanlam Personal Loans. All debt review related correspondence and proposals etc in regards to these loans have been going to Consumer Friend and Debt Counsellors have become used to that arrangement. Things are changing for a large selection of older accounts which have been sold on and those dealing with these matters should take note of the change which comes into effect from today (10 December 2018)
Capital Data Now Handling Past Sanlam Loans
Capital Data, who are a division of Transaction Capital Recoveries (who administer many debts for credit provider MBD Legal Collections) will now be handling most past debt review matters on Sanlam Loans as of 10 December 2018.
There will be a bit of a learning curve as Consumer Friend will continue to deal with new debt review matters for Sanlam Loans and it is only older matters, where the debts were sold, which have been moved over to Capital Data.
‘Capital Data… will now be handling past debt review matters on Sanlam Loans as of 10 December 2018‘
So, the rule of thumb is: If it is a new matter then continue to talk to Consumer Friend as usual and if it is an older matter that is affected by the change (one where the debt was sold) then Capital Data will already have contacted you via email and sent a list of the affected accounts.
Please note that this will affect the bank account to which payments are made on these particular accounts and all PDAs should take note of this and adjust this accordingly. Capital Data has been in contact with the PDAs about the changes as well.
Don’t Use a PDA? BEWARE!!!
Debt Counsellors clients who perhaps do not make use of a PDA, for some reasons, should also take note and adjust the account to which they are making payments and where they send proof of payments so as to avoid terminations. Paying to the wrong account can give the credit provider a reason to stop cooperating with the debt review process and revert to the old agreements and add huge amounts of missing fees and interest and start new legal action against those who miss payments.
If you received correspondence in regard to client accounts which are affected by the sale of that debt and the change to Capital Data, then you may want to just take a quick moment and check with your PDA that they have the correct bank details now loaded for these particular accounts as of December 2018.
For more information, you can contact Capital Data on email@example.com