1 reviews | Active since Jan 2021
African Bank lists a Debt Review client as "in Arrears" they recieved payments every month
I had 2 loans from African Bank and have been under Debt Review since 2017. I paid off both loans in December 2020 and January 2021 respectively. However, when I checked my Credit Reports on Transunion, Experien and ClearScore etc., I noticed that African Bank had listed my payments as missing, late, or in arrears for more than half of the time I was on Debt Review. Except for the time I Joined the Debt review in 2017, I only skipped 1-2 month during the lockdown.
When African Bank agreed to the Debt Review process, they should have adjusted their system so that the new Debt Review payments are taken as full installment. But African Bank had my accounts always on arrears since 2018, and on Credit Reports, those accounts always appear as in arrears/missing or late by 60 days 150 days each, yet they were receiving payments every month.
This seems unfair as they should have taken into account I was under debt review. At the same time, I also had FNB credit and FNB overdraft, and they NEVER even listed those two accounts on Credit Bureaus. Both FNB accounts appear as "NOT UPDATED" from 2017 and when I paid off the FNB credit card account, they just said "Account Closed". Why can't African Bank do the same since I was under debt review.
