Spiraling issues with Sagicor mortgage


Claudienne Edwards

Sunday, September 23, 2018

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Dear Claudienne

As stated in telephone conversations, I am having a challenge with my mortgage provider Sagicor, whose representative sent me a letter outlining the terms and conditions of my mortgage and statements of affairs.

The letter also stated that I was to pay $236,259.67 for creditor life insurance over a three-month period.

I paid the creditor life insurance ($236,259.67 over the agreed three-month period.

However, unknown to me, Sagicor deducted from my account, for creditor life insurance, a larger sum than we had agreed on. They deducted $269,105.42 from my account and this resulted in the derailment of my monthly payments.

Furthermore, I recently learned that my mortgage payments, which I make by cheque are not credited to my account on the date I make the lodgement but on the date the cheques are cleared by the bank. The bank takes three days or more to clear a cheque so this situation has resulted in late fee charges being added to my mortgage payments thus throwing the account into arrears.

In July, 2017 I was informed that my account was two months in arrears, a position I couldn't understand at the time.

I subsequently arranged a meeting (early November 2017) with the manager who facilitated the loan. At that time I went through the payments I had made and concluded that the claim that my mortgage was in arrears was an error on the bank's part.

A follow-up e-mail that I sent to the manager was later forwarded to the Bad Debt Unit.

In December 2017 I received a call from the mortgage department in regard to the position taken in my e-mail, and it was agreed that we would meet in January 2018 when the manager returned to office. Because I heard nothing further from them re a date for that meeting I assumed that the mortgage account had been reconciled in my favour.

Fast-forward to June 15, 2018, on which date I received a demand notice for a $13,955, which they said I was owing on my mortgage account and which they said had to be paid in 14 days.

I immediately requested from them a date that we could meet to discuss the matter and the meeting was set for June 27, 2018.

At the meeting on June 27, 2018 I discovered the following:.

1. The amount deducted for creditor life insurance was not $236,259.43 as was stated in the letter, but $269,105.43.

2. A payment of $315,037.70 that I paid in May, 2018 was not reflected on my account

3. Their record showed that no payment was made in June 2017 and that altogether my mortgage payments were four months in arrears.

This has resulted in arrears of a little over $683,000. I had to give them a cheque for $640,000 even though I told them that I had paid $315,037 in May 2018. Subsequently, I was asked to submit a copy of the cheque for that payment .

I also submitted copies of the letters setting out the sum I was to pay for creditor life insurance.

I left the meeting with the understanding that they would seek to resolve this issue but was subsequently told via e-mail that the amount they had said I owed would stand.

Sagicor's stance has left me very disappointed and frustrated.

I am sending you copies of the e-mails I received with the hope that they will give you a better understanding of the issues.

I am also hoping that you will be able to help me to have my concerns addressed by Sagicor.


Dear ER

Tell Claudienne has been in communication with Sagicor about your concerns and note that you have met with them and resolved the issues.

You told Tell Claudienne on Wednesday September 19, 2018 that they have apologised. You said that Sagicor has agreed to peruse the accounts and reverse the charges for late payments, where necessary.

You said the late payment charges took you by surprise as it was not stated in the mortgage agreement that your account would be credited on the date your cheque was cleared, instead of on the date it was lodged.

When you met with Sagicor on Tuesday it was agreed that to avoid late payments you will have to lodge the cheques for your mortgage payments before the due date or make cash payments on the due date.

It has now been established that your mortgage account was two months in arrears, not four months.

It has been establshed that your creditor life insurance was not increased.

Sagicor told Tell Claudienne on Thursday September 20 that you will receive a letter from them stating the points of agreement.

We wish you all the best.


Dear Claudienne

I had an accident on the job and was very hurt, as I sufferred a torn rotator cuff.

I submitted an “accident on the job” claim form to the NIS office in Montego Bay and was told that the claim was sent to the NIS Kingston office for processing. I have been folllowing up every two to three months only to be told “these things normally take long, just keep checking” or “it's still being processed”.

Could you kindly assist, as it has been one year and eight months since the claim was submitted and I cannot fathom why it is taking so long.


Dear MH

Tell Claudienne was told by the NIS that your claim had to be sent back to the Ripon Road NIS office for additional information.

We note that the additional information was obtained and that your claim has been paid.

We wish you all the best.

Have a problem with a store, utility, a company? Telephone 936-9436 or write to: Tell Claudienne c/o Sunday Finance, Jamaica Observer, 40-42 Beechwood Avenue, Kingston 5; or e-mail: . Please include a contact phone number.

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