African Bank
African Bank for taking a excess amount

I just received my credit report from the ITC and I see that loan reference 4413060001 still shows in arrears, which I received a paid up letter from African Bank.

I gave African Bank a call and requested a statement and notice on the statement that the amount that I loan went from R 5000 to R18, 472.55 .The duplum rules state once a consumer is in default, arrears interest may never exceed the outstanding capital balance owed at the time of default (Section 101) (Regulations 46-48).

So please explain to me why did the amount went from R 5000 to R18, 472.55 and take my name of ITC because the account is paid up.

Kindly note that am also taking legal action against African Bank for taking a excess amount.

ASTON KOCK

t: 27 12 621 4846 | f: 27 12 621 4470
e: [Email Removed] | [URL Removed]

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