Big impact of missing loan repayments

A Fin24 user found out the hard way what happens when one misses loan repayments. She writes:

I have a personal loan with African Bank. In 2014 I missed three payments of R4 036. The arrears grew to R33 589 to date.

I increased my payment to R4 563 in trying to beat the interest on arrears.
 
The problem is the R500 I added onto my repayment doesn't seem to make a difference. The loan has grown to R91 000.

What can I do to pay off this loan within the terms I'm told I have to pay it off? Should I get another loan to pay off the African bank loan and start afresh? Please advise me.

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A spokesperson for the curator of African Bank, responds:

The Fin24 user entered into an agreement with African Bank in May 2013 in terms of which she would pay an instalment of R4 035.64 over a period of 42 months.

Unfortunately, she defaulted on five instalments and paid far less than her contractual instalment for an additional six months. As a result, arrears interest accrued caused an increase in her balance.
 
We contacted her and explained the above to her. We further advised her that interest and charges will at some point cease due to the defaults.

It would, therefore, not be advisable for her to incur further debt in order to settle the outstanding amount with African Bank, as she may end up paying back more than she would to African Bank, due to interest and fees on such new debt.
 
We also provided her with the monthly amount she will be required to pay, should she wish to settle the account within the original contractual term. She confirmed that she will have a look at her finances and revert to us.

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