Account closed - but still accumulating costs

As part of a loan agreement at my current employer, they settled all of my accounts, so that I could have one consolidated amount at a favourable rate (also a bank). In 2013, my personal loan at ABSA was settled in full.<br> <br> I now got a letter, late by more than a month, from ABSA stating that I am in arrears by just over R1060! When I phoned them, they tell me that although the account was settled, I never closed the account! *** - surely if the account is settled in full, the closure should be done automatically? When the balance is zero - close it!<br> <br> If it was a revolving credit account, acceptable. But this is a personal loan account. Never once did I receive a letter from ABSA to say that although the account has been settled, it still needs to be closed. They just let the amount compound until it's big enough to be listed on the credit bureau!<br> <br> This is just another way that ABSA makes money out of the unsuspecting public!