African Bank
ITC/Incorrect Billing

I just received my credit report from the ITC and I see that loan reference 4214570000021275 still shows in arrears of R6878, and to my knowledge the account is paid up ; which I received a paid up letter from African Bank.

I also notice on the credit report that the amount that I loan went from R 3000 to R19827 .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 3000 to R19827 and take my name of ITC because the account is paid up.

Kindly note that I will take up the matter of this account up with my lawyers and the Ombudsman. African Bank for taking a excess amount. Please investigate and give me feedback and I want the excess money back

Company: African Bank
Country: South Africa
City: Midrand

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