Capitec Bank Maintaining Indefinite Credit Restriction on Paid-Up Debt

Good day,

I am lodging a formal complaint against Capitec Bank regarding an indefinite internal credit restriction that continues to prejudice me financially.

Capitec Bank has confirmed in writing that:

The loan was sold in January 2017;

The debt was paid up at the time of sale; and

No outstanding balance exists in my name.

Despite this, Capitec has stated that it does not remove “handover” statuses, even where debt is settled, and that this status remains on their system indefinitely. As a result, I am unable to access credit, not only from Capitec but also from other banks, due to adverse reporting.

Further, the alleged debt purchaser (NBA Attorneys) has confirmed in writing that they have no record of my account.

I have attempted to resolve this directly with Capitec and have now escalated the matter to:

All major credit bureaus (TransUnion, Experian, Compuscan, XDS); and

The National Financial Ombud Scheme.

I am requesting that Capitec:

Remove or neutralise the internal credit restriction; and

Ensure my credit record reflects settled / sold with no adverse effect.

I trust Capitec will urgently review this matter and provide a fair resolution.

Kind regards Fezile Mangwane