Formal complaint against Capital Debt SA ( Kaashief Dundas DC4223)

22 May 2026 The National Credit Regulator (NCR) 127 - 15th Road, Randjespark Midrand, 1685 Email: *** RE: FORMAL COMPLAINT — FAILURE TO COMMUNICATE, MISMANAGEMENT OF DEBT REVIEW FUNDS, AND ONGOING FINANCIAL PREJUDICE

Dear Sir/Madam, I write to formally lodge a complaint against capital Debt SA (NCR Registration No. DC4223), under the supervision of Mr. Kaashief Dundas, regarding their repeated failure to communicate, their inability to account for the distribution of funds paid under my debt review, and the ongoing financial prejudice I continue to suffer as a direct result of their conduct. 1. BACKGROUND My account was journaled by ABSA in June 2025 as a result of my participation in a debt review programme. Following this, I submitted a formal complaint to the Financial Sector Conduct Authority (FSCA) / Financial Ombudsman, who referred me to the National Credit Regulator (NCR) to address the discrepancies in my account. Despite this referral, I received no communication whatsoever from the NCR or any affiliated debt counsellor for an extended period. 2. INITIAL CONTACT WITH CAPITAL DEBT SA On 16 April 2026, I was contacted by Ms. Abongile Mbanjwa of Debt SA (Tel: *** / ***) regarding my accounts. During this communication: a) Ms. Mbanjwa informed me of the status of my accounts and advised that the payment method used under my previous debt review arrangement was not permissible. b) She provided me with Capital Debt SA's NCR registration number (DC4223) under Mr. Kaashief Dundas. c) A WhatsApp number was provided for the submission of documentation, and the company appeared responsive at that stage. d) When I raised the concern about ABSA potentially journaling my account again, Ms. Mbanjwa specifically undertook to assist me and provided her direct landline and WhatsApp number as points of contact, assuring me I could reach her directly should this occur. 3. SECOND JOURNALING BY ABSA AND COMPLETE COMMUNICATION BREAKDOWN On 30 April 2026 — approximately two weeks after the above engagement — ABSA journaled my account again. I immediately attempted to contact Ms. Mbanjwa via both the WhatsApp number and the landline she had provided. Both numbers are non-operational: a) The WhatsApp number does not connect. b) The landline does not connect. Despite daily attempts, I have been entirely unable to reach any responsible person at Capital Debt SA. This constitutes a serious failure of duty on the part of the registered debt counsellor and is in direct contravention of the undertakings given to me. 4. FAILURE TO ACCOUNT FOR FUND DISTRIBUTION On 4 May 2026, lorenn@capitaldebtsa requested all account information from my previous debt counsellor, Mr. Lukas Vorster. On 8 May 2026, I contacted Ms. Kaylene Jantjies to request a detailed statement reflecting how funds collected from my account were distributed to my creditors. Ms. Jantjies was unable to provide this information and referred me back to the NCR — the very body I have been unable to reach. I subsequently sent a query to PDA@DCPartners requesting a comprehensive distribution statement. The only documentation received reflected how funds were deducted from my account, but provided no breakdown of how those funds were allocated to individual creditors. This is wholly inadequate and financially prejudicial to me. 5. SUMMARY OF GRIEVANCES I respectfully submit the following specific complaints for investigation: a) Complete failure by Capital Debt SA (DC4223) and Mr. Kaashief Dundas to maintain any form of communication with me, despite explicit undertakings to do so. b) Non-operational contact numbers provided by Ms. Abongile Mbanjwa, rendering it impossible for me to seek assistance following the second journaling of my account by ABSA. c) Failure by capital Debt SA and the associated Payment Distribution Agency (PDA) to provide a clear and transparent statement accounting for all monies deducted from my account and how they were distributed among my creditors. d) Failure by named individuals, including Ms. Kaylene Jantjies and others at capital Debt SA, to respond to emails and calls. e) General mismanagement of my debt review, including unauthorised or impermissible payment methods being used without my knowledge. f) The continued registration of Mr. Kaashief Dundas as a debt counsellor with the NCR, notwithstanding the conduct described herein, which I submit is misleading to consumers and contrary to the objects of the National Credit Act. 6. RELIEF SOUGHT I respectfully request that the NCR: a) Conduct a formal investigation into Capital Debt SA (DC4223) and Mr. Kaashief Dundas regarding the above-mentioned conduct. b) Compel Capital Debt SA and/or the relevant PDA to provide me with a full and complete statement reflecting all funds received and distributed on my behalf. c) Investigate whether the payment methods app**** to my debt review were compliant with the National Credit Act 34 of 2005. d) Take appropriate regulatory action, including the suspension or cancellation of Mr. Kaashief Dundas's registration as a debt counsellor, if the investigation confirms the conduct described herein. e) Ensure that my accounts are correctly reflected and that the ongoing journaling of my ABSA account is addressed as a matter of urgency. I trust that the NCR will treat this matter with the urgency and seriousness it deserves. I am available to provide any further documentation or information required to support this complaint. Yours faithfully,