URGENT: Incorrect Credit Record & Lack of Communication on Returned Vehicle – ABSA Vehicle Finance

Dear HelloPeter,

I am extremely frustrated and disappointed with the way ABSA Vehicle Finance has handled my account and the returned vehicle I financed through them.

In 2022, I purchased a Hyundai i20 (2022 model) through ABSA Finance. After only 6 months, I was unfortunately retrenched from my job and could no longer afford the repayments. In February 2023, I voluntarily returned the car to ABSA, as agreed. They assured me that I would be informed of the auction details before the car was sold, but no such communication ever took place.

After three months of no feedback, I contacted ABSA Vehicle Finance to ask if the car had been sold and whether I still owed anything. I received no proper response. Later in 2023, I began receiving calls from attorneys claiming I owed a shortfall of R161,853.32. I then went to ABSA directly and was informed that I in fact owed nothing, as the vehicle was sold on 8 May 2023 and the sale amount covered the full outstanding balance. This was confirmed on my ABSA statement showing a zero balance.

However, despite this, attorneys continued calling me for the so-called shortfall. ABSA even gave me their legal department’s number, and when I called, they insisted I owed the same amount. Yet both parties admitted the vehicle was sold. The problem is — my credit report still shows the full car amount of R359,315 as outstanding!

This incorrect listing has severely damaged my credit score and is now preventing me from securing an apartment to rent after relocating to Cape Town. I have sent multiple emails to ABSA requesting a corrected statement and proof of settlement. They sent proof of the sale but not a statement reflecting the zero balance.

I am asking for: 1. Immediate correction of my credit report to reflect the correct status (settled, zero balance). 2. Written confirmation and final statement showing that the account is closed. 3. An explanation as to why I was misinformed, harassed by attorneys, and left without communication regarding the sale.

This ongoing negligence is unacceptable and is causing serious personal and financial harm. I expect urgent resolution.