Unauthorized Loan Restructuring and Account Discrepancies

My name is Minenhle Mtshali 087 I am writing to lodge a complaint regarding my loan account with your institution. I took out a loan if R26,000 on 08 November 2022, and I have been consistently making payments on this account since then. On the 18/05/2026 I received an Sms and email notification stating that my account is in arrears and that I may qualify for a loan term extension. Concerned, I contacted your collections department on ***to seek clarity. I spoke with an agent named Hazel who informed me that my account had already been restructured and placed under long term extension ending in 2028. This came as a complete shock to me as I never gave consent or authorization for such a change to my contract. When I questioned how this could happen without my approval, I was told that receiving an SMS automatically places a customer on a loan term extension if no response is given. This explanation is unacceptable, as it effectively alters a legal agreement without explicit customers consent.

I then requested to speak to a supervisor and was transferred to Nthabi the supervisor from collection who repeated the same explanation she further advised that * My account shows arrears for January 2023, February 2023 and March 2023. *The loan term extension was initially supposed to end in 2026, but is now extended to 2028 *She was unable to confirm who authorized the restructuring or when it was auctioned.

This lack of transparency is deeply concerning. I raised the following concerns: * How can my loan agreement be changed without my consent? *Why am I expected to repay 26,000 loan over a period exceeding 8years? * How is it justified that I continue paying when I have already paid an amount exceeding what was originally expected, including interest?

Despite these valid concerns, I did not receive any clear or satisfactory answeres . Nthabi advised would cancel the extension with Reference Number (***), but i have not yet received confirmation or clarity on the matter.

I was then transfered to customer service where I spoke with Sifiso since collection Department they dont have lots of information, Sifiso then placed me on hold untill the call was dropped, leaving my concerns unresolved.

I strongly believe there is serious mismanagement and possible *****ulent activity on my account. It is unacceptable for contractual changes to be made without customer consent and without proper records or accountability.

I am formally requesting 1 A full investigation into my account 2 A detailed explanation of when and how my account was restructured 3 Proof of any consent allegedly provided 4 Immediate reversal of any unauthorized changes 5 A correct and updated account statement reflecting accurate balances and payments

If I do not receive satisfactory response within a reasonable time frame, I will escalate this matter to the Banking Ombudsman for further investigation on this matter.

I expect urgent attention to this Matter. ***.