Credit Nightmare: How ABSA's Incompetence Has Impacted Our Lives

I am writing this message with deep dismay and frustration. My wife and I have a joint ABSA home loan and a Debi check that is scheduled to run on the 26th of every month. Ordinarily, we ensure that our account has sufficient funds to cover these payments.

However, in August, ABSA failed to debit our account on the agreed-upon date of the 26th. Instead, they delayed the transaction until the 5th of August. To make matters worse, on the 8th of August, we received an SMS notification that our account was in arrears, even though they had debited our account on the 5th of August. This discrepancy has led to an unjust listing on the credit bureaus, indicating that our home loan was in arrears for the entire month of August.

The consequences of this error have been nothing short of disastrous for us. We had worked diligently to maintain good credit scores and a solid credit history. However, due to the incompetence of this bank, our credit scores have been severely impacted. As a result, we are now unable to apply for credit anywhere, and it has become a source of great frustration and inconvenience in our lives.

What adds to our frustration is the fact that many credit providers typically update their records on the 7th and 8th of every month, with the 7th being the final day for making payments. In our case, it's a direct debit check, and our account had sufficient funds, so there should have been no issues with the payment.

We implore you to rectify this situation immediately by updating our credit information on the bureaus to accurately reflect that our home loan was not in arrears during August. This error is not only causing us undue stress but is also negatively impacting our ability to obtain credit, such as insurance. This, in turn, jeopardizes our financial security and well-being.

If this issue is not promptly resolved, we may have no choice but to explore the option of transferring our bond to a different bank, as we cannot continue to suffer the consequences of ABSA's mistakes. We hope that you understand the urgency and severity of this matter and take immediate action to rectify it. Our financial future and peace of mind depend on it.