Harrassment by MBD

I have put through complaints to this organisation before but it has fall on deaf ears.

I do not agree with interest that had been charged by MBD on a monthly basis. In my view there should be a standard interest rate which clearly proves that the interests is calculated on an annual standard interest rate, and not a monthly variant interest rate. My solution is that interest be s****ped. Interests should be calculated annually not monthly. The interests added in one month exceeds the required amounts on a monthly basis. I am being charged +R800 for legal fees and +R12000 in interest that sounds *********. There should be a limit to added interests. What is ridiculous is the fact that for most months R1000 interest is added. I do not agree to pay for all these legal fees nor do I agree to pay all the interest. I am being charged for calls, sms`s and for emails. I do not agree and understand why they call on a daily basis then charge me for it. Why is the interests varying over all months? In August the interest is R240, the least of all other months. I find it unreasonable that I am being charged on a monthly basis for interest above what I owe. I do not think it is legal to be charged R1200 a month for interest if you look at the breakdown of interests per month then it ranges from R1000- R1500 per month. I will never be able to finish my debt and the poverty cycle of trying to pay an account unlike others who do not pay. I have asked in April that this capital be sealed and no interests be added but to my surprise the interest is added every month. In total the interest accumulates to R12000.00, this is ridiculous.

I just want to start seeing movement of what I am paying on a monthly basis. I never receive statement for the payments I make, how legal is that. Yes there arguments is that I am paying the minimum but they do not understand I am overburdened financially and it is stretching me to even pay this amount that I agreed to, in whose favour is the legal system if these type of organisations want to keep you indebted because they add huge amounts of interest onto your debt. I am saying R57 886.71 is what I owe Woolworth's, they bought the debt. They should allow me to pay off the capital amount being R 57 886.71 not the amount with their interest. If all companies add this ridiculous amounts of interest onto debtor’s accounts then the South African poverty line will increase further. I want to be less indebted but places like this is not helping the indebted consumer.

How do we as South African overcome this bullying from organisation like these. I do not want to be called or harassed with letters from them.

See attached document with comments.

————————— They are currently collecting on behalf of Woolworths. This morning I received another call from their call center stating I had not made a payment in July yet I had made a July payment. Their issue is that they expect me to pay more which I do not have.

I am suffering with these creditors, they do not respond to emails I have sent and keep calling about payments everyday so they can add it to my bill.

Please help.

I have been told yesterday I need to make an arrangement, I have sent numerous emails with what I can afford, stop calling. No one answers my emails.

500 is all I can afford, I have no food money after this but do they care

Regards