SK
Sidwell K
1 reviews | Active since Feb 2022
07 Aug 2024, 14:05
***********
Dear Fellow South Africans,
I am writing to warn you about a potentially devastating issue with First National Bank (FNB) that I recently discovered. If you have been under debt review and have since completed the process, please take immediate action to verify that your credit status has been properly updated.
I finished my debt review process on March 3rd, 2023, and received a clearance certificate. However, 14 months later, when I attempted to take out a loan, I was declined. After investigating, I shockingly discovered that FNB never removed my name from debt review. Despite receiving my clearance certificate, they failed to update my credit status.
This oversight led to:
- Higher interest rates - Difficulty improving my credit score - Rejection of my credit card application
I suffered financially and emotionally due to FNB's mistake. I was stressed, paying high interest rates, and struggled to access credit.
I urge you to double-check that your creditors have updated your credit scores correctly. Don't assume that everything is in order, as I did. Take control of your financial well-being and verify your credit status.
Demand that FNB and other creditors:
- Update your credit status promptly - Remove any incorrect debt review flags - Correct any errors on your credit report
Don't let FNB's negligence harm your financial future. Act now and ensure your credit profile is accurate.
Sincerely Sidwell Khanyi ***
Helpful (0)
Replies (3)0
Replies (3)SK
Sidwell K's updateReviewer Update
07 Aug 2024, 14:54Hi
Subject: Complaint: Unfair Credit Assessment and Red Flag Damage
Dear Embassy and fnb
I am writing to seek your assistance in a matter related to my credit assessment and a red flag placed on my name by First National Bank (FNB). I recently discovered that a red flag was placed on my name, which resulted in high interest rates on loans and significantly damaged my credit score.
Despite being debt-free since 3rd of March 2023, the red flag remained on my record until July 29, 2024, when FNB Debt Review acknowledged the error and agreed to remove it. However, the damage had already been done, and I was subjected to high interest rates on a revolving loan due to the red flag.
I am seeking your help in holding FNB accountable for their mistake. A simple apology is not sufficient, considering the financial stress and pressure caused by their error. I request that FNB takes concrete steps to rectify the situation and restore my credit status.
Specifically, I request:
1. A formal apology and acknowledgment of the mistake
2. Correction of my credit assessment and removal of the red flag's impact
3. Review and adjustment of the interest rate on my revolving loan
4. Compensation for the financial stress and damage caused
I would appreciate your assistance in resolving this matter. Please let me know the next steps to take.
Thank you for your attention to this matter.
Sincerely,
Sidwell Justice khanyi
***
Subject: Complaint: Unfair Credit Assessment and Red Flag Damage
Dear Embassy and fnb
I am writing to seek your assistance in a matter related to my credit assessment and a red flag placed on my name by First National Bank (FNB). I recently discovered that a red flag was placed on my name, which resulted in high interest rates on loans and significantly damaged my credit score.
Despite being debt-free since 3rd of March 2023, the red flag remained on my record until July 29, 2024, when FNB Debt Review acknowledged the error and agreed to remove it. However, the damage had already been done, and I was subjected to high interest rates on a revolving loan due to the red flag.
I am seeking your help in holding FNB accountable for their mistake. A simple apology is not sufficient, considering the financial stress and pressure caused by their error. I request that FNB takes concrete steps to rectify the situation and restore my credit status.
Specifically, I request:
1. A formal apology and acknowledgment of the mistake
2. Correction of my credit assessment and removal of the red flag's impact
3. Review and adjustment of the interest rate on my revolving loan
4. Compensation for the financial stress and damage caused
I would appreciate your assistance in resolving this matter. Please let me know the next steps to take.
Thank you for your attention to this matter.
Sincerely,
Sidwell Justice khanyi
***
SK
Sidwell K's update07 Aug 2024, 14:54
Reviewer Update
Hi
Subject: Complaint: Unfair Credit Assessment and Red Flag Damage
Dear Embassy and fnb
I am writing to seek your assistance in a matter related to my credit assessment and a red flag placed on my name by First National Bank (FNB). I recently discovered that a red flag was placed on my name, which resulted in high interest rates on loans and significantly damaged my credit score.
Despite being debt-free since 3rd of March 2023, the red flag remained on my record until July 29, 2024, when FNB Debt Review acknowledged the error and agreed to remove it. However, the damage had already been done, and I was subjected to high interest rates on a revolving loan due to the red flag.
I am seeking your help in holding FNB accountable for their mistake. A simple apology is not sufficient, considering the financial stress and pressure caused by their error. I request that FNB takes concrete steps to rectify the situation and restore my credit status.
Specifically, I request:
1. A formal apology and acknowledgment of the mistake
2. Correction of my credit assessment and removal of the red flag's impact
3. Review and adjustment of the interest rate on my revolving loan
4. Compensation for the financial stress and damage caused
I would appreciate your assistance in resolving this matter. Please let me know the next steps to take.
Thank you for your attention to this matter.
Sincerely,
Sidwell Justice khanyi
***
Subject: Complaint: Unfair Credit Assessment and Red Flag Damage
Dear Embassy and fnb
I am writing to seek your assistance in a matter related to my credit assessment and a red flag placed on my name by First National Bank (FNB). I recently discovered that a red flag was placed on my name, which resulted in high interest rates on loans and significantly damaged my credit score.
Despite being debt-free since 3rd of March 2023, the red flag remained on my record until July 29, 2024, when FNB Debt Review acknowledged the error and agreed to remove it. However, the damage had already been done, and I was subjected to high interest rates on a revolving loan due to the red flag.
I am seeking your help in holding FNB accountable for their mistake. A simple apology is not sufficient, considering the financial stress and pressure caused by their error. I request that FNB takes concrete steps to rectify the situation and restore my credit status.
Specifically, I request:
1. A formal apology and acknowledgment of the mistake
2. Correction of my credit assessment and removal of the red flag's impact
3. Review and adjustment of the interest rate on my revolving loan
4. Compensation for the financial stress and damage caused
I would appreciate your assistance in resolving this matter. Please let me know the next steps to take.
Thank you for your attention to this matter.
Sincerely,
Sidwell Justice khanyi
***
SK
Sidwell K's updateReviewer Update
07 Aug 2024, 15:09Dear FNB,
I'm writing to inform you that I have concrete evidence, including messages with your private bankers and tellers, confirming that my home loan was removed on July 29th, 2024, after being debt-free since March 3rd, 2023. Despite this, you've failed to remove the red flag from my credit profile, causing me unnecessary suffering.
I'm compelled to expose FNB's exploitative practices, which prey on vulnerable individuals who can't speak out. Your swift repossession of assets and refusal to renegotiate interest rates, even when offered double the requested amount, demonstrate a callous disregard for customers' well-being.
The people of South Africa deserve to know about the harm caused by your bank's actions. An apology won't suffice; I demand compensation for the stress and losses I've endured due to FNB's malfeasance. You will be held accountable for your actions.
I'm writing to inform you that I have concrete evidence, including messages with your private bankers and tellers, confirming that my home loan was removed on July 29th, 2024, after being debt-free since March 3rd, 2023. Despite this, you've failed to remove the red flag from my credit profile, causing me unnecessary suffering.
I'm compelled to expose FNB's exploitative practices, which prey on vulnerable individuals who can't speak out. Your swift repossession of assets and refusal to renegotiate interest rates, even when offered double the requested amount, demonstrate a callous disregard for customers' well-being.
The people of South Africa deserve to know about the harm caused by your bank's actions. An apology won't suffice; I demand compensation for the stress and losses I've endured due to FNB's malfeasance. You will be held accountable for your actions.
SK
Sidwell K's update07 Aug 2024, 15:09
Reviewer Update
Dear FNB,
I'm writing to inform you that I have concrete evidence, including messages with your private bankers and tellers, confirming that my home loan was removed on July 29th, 2024, after being debt-free since March 3rd, 2023. Despite this, you've failed to remove the red flag from my credit profile, causing me unnecessary suffering.
I'm compelled to expose FNB's exploitative practices, which prey on vulnerable individuals who can't speak out. Your swift repossession of assets and refusal to renegotiate interest rates, even when offered double the requested amount, demonstrate a callous disregard for customers' well-being.
The people of South Africa deserve to know about the harm caused by your bank's actions. An apology won't suffice; I demand compensation for the stress and losses I've endured due to FNB's malfeasance. You will be held accountable for your actions.
I'm writing to inform you that I have concrete evidence, including messages with your private bankers and tellers, confirming that my home loan was removed on July 29th, 2024, after being debt-free since March 3rd, 2023. Despite this, you've failed to remove the red flag from my credit profile, causing me unnecessary suffering.
I'm compelled to expose FNB's exploitative practices, which prey on vulnerable individuals who can't speak out. Your swift repossession of assets and refusal to renegotiate interest rates, even when offered double the requested amount, demonstrate a callous disregard for customers' well-being.
The people of South Africa deserve to know about the harm caused by your bank's actions. An apology won't suffice; I demand compensation for the stress and losses I've endured due to FNB's malfeasance. You will be held accountable for your actions.
SK
Sidwell K's updateReviewer Update
09 Aug 2024, 09:46The National Credit Act (NCA) 2005, specifically Section 81, addresses reckless lending, which includes lending money to someone who is over-indebted. Here are the key points:
*Reckless Lending (Section 81)*
- A credit provider must not enter into a credit agreement with a consumer if:
- The consumer does not understand the risks, costs, and obligations under the agreement.
- The consumer is already over-indebted.
- The credit provider has not made a reasonable assessment of the consumer's ability to afford the credit.
- A credit agreement resulting from reckless lending is ******** and may be declared void by a court.
*Consequences for Banks (Section 82)*
- If a credit provider is found guilty of reckless lending, they may face:
- A fine of up to R1 million (approximately $67,000 USD).
- Imprisonment for up to 10 years.
- Suspension or cancellation of their credit provider registration.
- Orders to:
- Refund any money received under the ******** credit agreement.
- Compensate the consumer for losses suffered.
- Pay damages to the consumer.
*Over-indebtedness (Section 79)*
- A consumer is considered over-indebted if they are unable to meet their financial obligations under a credit agreement.
*Debt Counselling (Section 86)*
- If a consumer is over-indebted, they may apply for debt counselling, which can lead to a debt rearrangement plan or a clearance certificate.
I happen to have my clearance certificate as proof that i was debt free all this years and fnb still had red flags under my name....if you want more evidence please let me know but just know this i dont want to be compensated with money, to show you that this is not about money but about financial freedom and fairness......i want nothing to do with fnb.......you will settle all my accounts yourself for thinking you smarter.
*Reckless Lending (Section 81)*
- A credit provider must not enter into a credit agreement with a consumer if:
- The consumer does not understand the risks, costs, and obligations under the agreement.
- The consumer is already over-indebted.
- The credit provider has not made a reasonable assessment of the consumer's ability to afford the credit.
- A credit agreement resulting from reckless lending is ******** and may be declared void by a court.
*Consequences for Banks (Section 82)*
- If a credit provider is found guilty of reckless lending, they may face:
- A fine of up to R1 million (approximately $67,000 USD).
- Imprisonment for up to 10 years.
- Suspension or cancellation of their credit provider registration.
- Orders to:
- Refund any money received under the ******** credit agreement.
- Compensate the consumer for losses suffered.
- Pay damages to the consumer.
*Over-indebtedness (Section 79)*
- A consumer is considered over-indebted if they are unable to meet their financial obligations under a credit agreement.
*Debt Counselling (Section 86)*
- If a consumer is over-indebted, they may apply for debt counselling, which can lead to a debt rearrangement plan or a clearance certificate.
I happen to have my clearance certificate as proof that i was debt free all this years and fnb still had red flags under my name....if you want more evidence please let me know but just know this i dont want to be compensated with money, to show you that this is not about money but about financial freedom and fairness......i want nothing to do with fnb.......you will settle all my accounts yourself for thinking you smarter.
SK
Sidwell K's update09 Aug 2024, 09:46
Reviewer Update
The National Credit Act (NCA) 2005, specifically Section 81, addresses reckless lending, which includes lending money to someone who is over-indebted. Here are the key points:
*Reckless Lending (Section 81)*
- A credit provider must not enter into a credit agreement with a consumer if:
- The consumer does not understand the risks, costs, and obligations under the agreement.
- The consumer is already over-indebted.
- The credit provider has not made a reasonable assessment of the consumer's ability to afford the credit.
- A credit agreement resulting from reckless lending is ******** and may be declared void by a court.
*Consequences for Banks (Section 82)*
- If a credit provider is found guilty of reckless lending, they may face:
- A fine of up to R1 million (approximately $67,000 USD).
- Imprisonment for up to 10 years.
- Suspension or cancellation of their credit provider registration.
- Orders to:
- Refund any money received under the ******** credit agreement.
- Compensate the consumer for losses suffered.
- Pay damages to the consumer.
*Over-indebtedness (Section 79)*
- A consumer is considered over-indebted if they are unable to meet their financial obligations under a credit agreement.
*Debt Counselling (Section 86)*
- If a consumer is over-indebted, they may apply for debt counselling, which can lead to a debt rearrangement plan or a clearance certificate.
I happen to have my clearance certificate as proof that i was debt free all this years and fnb still had red flags under my name....if you want more evidence please let me know but just know this i dont want to be compensated with money, to show you that this is not about money but about financial freedom and fairness......i want nothing to do with fnb.......you will settle all my accounts yourself for thinking you smarter.
*Reckless Lending (Section 81)*
- A credit provider must not enter into a credit agreement with a consumer if:
- The consumer does not understand the risks, costs, and obligations under the agreement.
- The consumer is already over-indebted.
- The credit provider has not made a reasonable assessment of the consumer's ability to afford the credit.
- A credit agreement resulting from reckless lending is ******** and may be declared void by a court.
*Consequences for Banks (Section 82)*
- If a credit provider is found guilty of reckless lending, they may face:
- A fine of up to R1 million (approximately $67,000 USD).
- Imprisonment for up to 10 years.
- Suspension or cancellation of their credit provider registration.
- Orders to:
- Refund any money received under the ******** credit agreement.
- Compensate the consumer for losses suffered.
- Pay damages to the consumer.
*Over-indebtedness (Section 79)*
- A consumer is considered over-indebted if they are unable to meet their financial obligations under a credit agreement.
*Debt Counselling (Section 86)*
- If a consumer is over-indebted, they may apply for debt counselling, which can lead to a debt rearrangement plan or a clearance certificate.
I happen to have my clearance certificate as proof that i was debt free all this years and fnb still had red flags under my name....if you want more evidence please let me know but just know this i dont want to be compensated with money, to show you that this is not about money but about financial freedom and fairness......i want nothing to do with fnb.......you will settle all my accounts yourself for thinking you smarter.