AFRICAN BANK INCOMPETENCE

I took the personal loan with AFRICAN BANK in December 2021 and I was paying monthly via debit order.In March 2023 I was retrenched and i informed them as I was under the impression that the insurance would pay off the balance of the loan. But instead I was told the insurance only pays for the period of 12 months. After 12 months they stopped paying and I was still unemployed.

In July I got employed and in August I paid all the months in arrears and since then my account status with African Bank is in good standing BUT I have been noticing that my credit score with Transunion is decreasing every week and when I call them they told me my account is in areas with African Bank.

I called African Bank and they told me that my loan agreement with them was that it would be paid up in December 2024 and is still not and there were months which the account was not paid hence they handed the account over to Transunion.

When I asked how possible is that because the account is currently in advance in terms of payment and that they were informed during the time I was unemployed,the lady told me she would make an enquiry which will take 21 working days to resolve

I need them to update the correct information with Transunion and reverse all the ridiculous interest and penalties for incorrect late payment they listed on this account. As the matter of fact I have overpayed African Bank ,the amount I have payed is tripled the amount I borrowed and they still saying I owe more than four thousand rands in this account.

Their latest statement received last week indicate that I owe them R4043 ,the balance showing on Transunion account is R5397 and their settlement letter shows another amount of R4376. I really don't know what is happening with this account. Someone's needs to correct all the madness on the account and update the correct information with all credit bureaus in South Africa as this is affecting me dearly. I need this resolved within 7 days