Late in 2010 I took a loan from Standard Bank to cover the deposit on my house. It was R20000. Then in middle 2011 we did an advance on the loan to R65000. Standard bank approved me to R80000 but we told them that we did not need the extra.
The contracts were signed and the debit order went off every month. December 2012 I enquired about a settlement on this account, to be informed that the settlement is close to R80000!!! I enquired and was informed that I am in arrears. I told them its impossible and that the debit order went off every month. They informed me then that it was their fault and that the debit order was never adjusted according to the new loan and thus the arrears.
So they conveniently used the R15000 that was available to cover the "arrears". NOT ONE PHONE CALL to me was made in a year to tell me something is wrong!!! Only when I phoned they realised.
Now this is where it gets interesting: I am refusing to pay for their mistake. I informed them and Odette said they are waiting for head office to give feedback. In the meanwhile she went on her own and adjusted my repayment from R480 to R1500 and now again to R2075!
I am paying for their mistake
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