My parent has relocated to Canada and the new owners of the home passed on a letter from MBD to me. On receiving the letter I realized my parent owed Truworths an amount of R 5400. I immediately phoned MBD and made a payment arrangement to get the bill sorted out. My initial call the amount was R 5400, I said I will pay R 2000 by the weekend. I actually paid R 3000 instead of R 2000 and made a second arrangement to pay the rest.
Between the time I made the payment to the last call they made to me was 7 days and the amount went from R 5400 to two days later R 5600, 2 day after that 5900 and currently R 6000. This means that MBD charges R 600 interest per 7 days.
This is illegal and I phoned the credit ombudsman and checked with the CPA board and both claim this is illegal. I will not be paying this account as firstly its not mine to pay but I was being a decent citizen and tried to pay the credit provider, however I have learnt that MBD is not interested in getting the money owed to Truworths, they interested in corning people out of money. I mean R 600 interest per week is.
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