Statement Shows Irregular Balance Adjustments & Repeated Collection Fees

I am lodging this complaint regarding the handling of my Finchoice loan, based on a review of the official account statements provided to me.

The statements show significant and unexplained balance fluctuations, including multiple entries labelled “Balance Adjustment”, which materially increase or decrease the outstanding balance without a clear calculation or explanation.

Specific concerns reflected on the statement include:

Repeated “Collection Commission (VAT Incl)” charges, app**** even after payments were made, including charges of approximately R292.51 and R66.63 in January 2026.

A payment of R2,550 followed by an additional payment of R580, yet the account still reflects an outstanding balance.

Large balance movements (for example, balances moving from approximately R2,800 to under R600 and then increasing again) without a transparent reconciliation.

Interest entries described as “Interest at 11%” with no clear indication of the interest period, compounding method, or calculation basis.

New charges appearing while the account status reflects “Request for Closure”, which makes the continued accrual of fees and adjustments difficult to understand.

Despite paying amounts communicated to me for settlement, new balances continue to arise afterward, creating a cycle where the account cannot be fully closed.

I have already requested clarity in writing and am asking for the following:

A full, itemised reconciliation of the account from inception to date

A clear explanation and contractual basis for each collection commission and balance adjustment

A final settlement amount that includes all fees, with written confirmation that no further charges will be app**** once paid

My intention is simply to settle and close this account fairly. However, the lack of transparency reflected on the statements makes this extremely difficult.