Hello Defender I took a loan with Faulu Bank Eldoret branch, which I was to pay for a period of years. The total amount plus interest I was to pay at the end of the three years was Sh400,520. The monthly installment was Sh11,444. I decided to clear the loan after paying for 16months thus I had paid a total of 183,104, according to my payslip the balance was 217,416 that is in June 2015. The balance the bank gave me was 265,996 as at June 2015, I paid the same then inquired about the disparity. I was refereed to Ngong road branch. Then manager Madam Rosebel informed me that I was not given a waiver for clearing my loan early. I am stationed in Nairobi, but I made several trip to Eldoret in vain. My reakdown is as below: Total amount to pay in 3yrs (principal +interest) — Sh 400,520 Monthly installments made( 11,444 x 16) totals to Shs183,104. Balance to be paid Sh217,416 What I have paid so far (11,444x 16) - Sh 183,104 Cheque - Sh 265,996 449,100 Sh 449,100-400, 520 = Sh48,580 I believe Faulu bank owes me Sh48,580 plus the waiver that I was to be given. Please help, Vivian.
kihanya.
DN
by the way did you manage to keep your teaching job or you left
Banks are like that. When enticing you to take the loan, they sugar coat the terms to the extent you can gloat to your friends how the bank is doing you a favor. Make the mistake to miss some repayments and you will wonder what happened to the friendly, sweet talking folks who were once promising you that with their partnership, the sky is the limit. That’s the time you realize everything they are demanding is written right there in fine print but during the signing of the loan, you were rushed over the terms and never got to read and understand them.
it is not a job.
it is an activity to keep me busy.
they seem to have few options,it is like they will keep me if they dont find somebody to replace me.
i told them to let me set and mark exams for this term.
i will test only what i have taught and see if i can be a good teacher
this also happens a lot with insurance policies. then the agent who sold you the policy is nowhere to be found
they should refund…that early payment penalty was abolished!
Is this one of the jobs you take on after a majormajor heist?
Like that lady who took a mortgage aka default na 4 months after servicing the loan for 10 years, akalia kwa TV. Auctionners vile walifika, alishangaa!!! Mpaka sufuria zilibebwa.
hehehe…
and let the eye witnesses memory scramble until they cant tell how my hood looked like.
lying low for a year or so paid alot
accept and move on. This is pocket change and you might lose some more while trying to pursue this…
#Birrionaire Tings