JM Cash Loan Assistance – Failure to Update Paid Loan, Affecting Credit Record

I would like to lodge a formal complaint against JM Cash Loan Assistance – Port Alfred branch regarding extremely poor service and failure to update my loan status. I took out a loan with JM Cash Loan Assistance in November. On 12 December, the full outstanding amount was debited from my account, and the loan was settled in full. Despite the account being paid, JM Cash Loan Assistance has failed to update the loan status on the credit bureaus. As a result, the account is still reflecting as open on my Experian credit report, which is negatively affecting my credit profile. I have made multiple attempts to contact the Port Alfred branch via messages and calls, but I have received no response. Experian has advised me that I cannot dispute or close the account on their side unless I am provided with a paid-up letter from JM Cash Loan Assistance. This lack of response and failure to issue a paid-up letter is unacceptable and unprofessional, especially considering the financial impact it has on my credit record.

I am requesting the following as a matter of urgency: A paid-up letter confirming the loan was settled on 12 December. Immediate update of my account status with all relevant credit bureaus. Written confirmation once the matter has been resolved.

I trust this complaint will prompt JM Cash Loan Assistance to address this issue.