Nedbank
Incorrect installment on credit report

I have a credit card with Nedbank which I opened in 2010. In June or July I made an arrangement with the bank to pay-off my account at a lower instalment as I couldn't afford the more than R3000 I had to pay. I asked the bank to close the account so that I can't use it any further and I will pay a fixed monthly fee of R1600. The balance owing on the account of R39805 is now being reflected on my credit report report as my monthly instalment. This has negatively affected my credit score as it is showing that I pay more than I earn. My latest statement show that I need to pay R1554.46 on the 20th of November which the bank takes via debit order. I contacted the Nedbank contact centre today and the agent in the collections department was not prepared to assist me as he said that's what happens when you are on an arrangement. When I made the arrangement I wasn't made aware that this would have a negative effect on my credit score/profile. I am also going to switch my account to another bank as I always get pathetic service from the contact centre.

Company: Nedbank
Country: South Africa
City: Credit Card

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