I had a Standard bank Blue Bean credit card. In November 2008, with the bank crash, I lost my job - sadly, I wasn't retrenched as I was a temp so I did not have any funds to pay my debts. I lost my home, everything and the ensuing four years brought no relief as I could not find another job. I wrote letters to all my suppliers informing them of the situation. I finally found a job in October of last year and waited for the probabtionary 3 months before I started clearing up my debt. On investigation, I discovered that Blue Bean no longer exists and that my debt had been handed over to a debt collection agency. I called this agency in Februaryk in order to arrange to settle this debt. THey informed me that I owe R27 000. THe original debt was to the value of R10, 569.00, the interest accumulated and shown on my credit listing states R16 000 - which I was prepared to pay. The IN DUPLUM RULE states that the interest on an old debt may not exceed the original amount of the debt. I asked them to adjust their figures but in dealing with a call centre, every time they phone you speak to a different person, this debt is old and should have beens debt should have been prescribed
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