Grievance Regarding Penalties After Property Sale

Raymond Stevens 76 Jenner st Rayton *** *** Date: 26 November 2024

ABSA Customer Care ABSA Bank Limited

Dear Sir/Madam,

Re: Grievance Regarding Penalties After Property Sale

I hope this letter finds you well. I am writing to formally express my grievance regarding the recent situation surrounding my bond and the penalties imposed by ABSA, which I find to be both unjust and unreasonable.

To provide some context, I was employed by Working SA consulting for Exxaro in the IM department for 14 months and was granted a two-year extension to my contract. Unfortunately, just a month later, the entire contract team, including myself and approximately 250 other employees, was dismissed. This abrupt termination has led to my unemployment for over a year, which has significantly impacted my financial situation.

As a result of my inability to keep up with my bond payments due to the loss of income, I was in contact with ABSA regarding possible solutions. I am grateful that ABSA provided me with the option to sell my property rather than face foreclosure. With this advice, I took the initiative to put my property on the market and, fortunately, received an offer to purchase.

However, I am now being penalized by ABSA for not providing notice to cancel the bond prior to the sale. This penalty is both confusing and distressing, as ABSA was the one who initially recommended that I sell the property to avoid foreclosure. To now be penalized for following the bank's advice is, in my view, not only unfair but also contradictory to the support and guidance I was led to believe I would receive from ABSA during this difficult time.

In light of the above, I respectfully request that ABSA reconsider the penalties imposed on my bond and provide a fair resolution to this matter. It is my sincere belief that I followed the bank's instructions in good faith and should not be penalized for doing so.

I would appreciate a prompt response to this grievance and hope for a positive resolution that reflects the bank’s commitment to treating customers with fairness and understanding.

Thank you for your attention to this matter. I look forward to your timely response.

Yours sincerely, Raymond Stevens 8089***631 raystevensza/2yahoo.com